Fifth Third Bancorp Sells 1,529 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Fifth Third Bancorp reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 6.6% during the fourth quarter, HoldingsChannel reports. The fund owned 21,699 shares of the semiconductor manufacturer’s stock after selling 1,529 shares during the quarter. Fifth Third Bancorp’s holdings in Skyworks Solutions were worth $1,924,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in SWKS. Erste Asset Management GmbH bought a new stake in shares of Skyworks Solutions during the 3rd quarter valued at $27,000. Investors Research Corp grew its holdings in Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares in the last quarter. Matrix Trust Co bought a new stake in shares of Skyworks Solutions during the third quarter valued at about $39,000. Valley Wealth Managers Inc. purchased a new stake in shares of Skyworks Solutions in the third quarter worth about $40,000. Finally, Quest Partners LLC bought a new position in shares of Skyworks Solutions in the third quarter valued at approximately $41,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Up 0.2 %

Shares of NASDAQ:SWKS opened at $89.81 on Wednesday. The stock has a market capitalization of $14.36 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. The stock’s 50-day moving average price is $89.55 and its 200-day moving average price is $96.81. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $1.95 EPS. Skyworks Solutions’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities analysts anticipate that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.12%. Skyworks Solutions’s dividend payout ratio is currently 75.68%.

Wall Street Analyst Weigh In

SWKS has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Morgan Stanley dropped their price objective on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Loop Capital assumed coverage on Skyworks Solutions in a research note on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Finally, Citigroup lifted their price target on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.12.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the completion of the transaction, the senior vice president now owns 15,960 shares of the company’s stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.