Corebridge Financial Inc. Has $3.35 Million Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Corebridge Financial Inc. cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 4.6% during the 4th quarter, HoldingsChannel reports. The fund owned 37,823 shares of the semiconductor manufacturer’s stock after selling 1,840 shares during the quarter. Corebridge Financial Inc.’s holdings in Skyworks Solutions were worth $3,354,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Pzena Investment Management LLC increased its holdings in shares of Skyworks Solutions by 37.5% during the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock worth $499,273,000 after purchasing an additional 1,536,289 shares during the period. Barclays PLC increased its stake in Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after acquiring an additional 949,407 shares during the period. Wellington Management Group LLP raised its holdings in Skyworks Solutions by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock valued at $223,994,000 after acquiring an additional 775,470 shares in the last quarter. KBC Group NV lifted its position in shares of Skyworks Solutions by 114.0% during the 4th quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock valued at $110,697,000 after acquiring an additional 664,874 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Skyworks Solutions by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer’s stock worth $1,803,915,000 after purchasing an additional 562,783 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Skyworks Solutions news, CEO Philip G. Brace purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was purchased at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on SWKS shares. Argus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley cut their price target on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Mizuho cut Skyworks Solutions from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $62.00 in a research note on Thursday, February 6th. Finally, Bank of America decreased their price target on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.78.

Skyworks Solutions Stock Up 0.8 %

Shares of SWKS opened at $64.63 on Tuesday. The stock’s 50-day moving average price is $72.62 and its two-hundred day moving average price is $85.09. Skyworks Solutions, Inc. has a 12 month low of $62.01 and a 12 month high of $120.86. The company has a market capitalization of $10.39 billion, a PE ratio of 19.83, a PEG ratio of 1.79 and a beta of 1.18. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. On average, analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

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.