Truist Financial Corp Sells 8,799 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Truist Financial Corp lessened its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 16.0% during the 4th quarter, HoldingsChannel reports. The fund owned 46,071 shares of the semiconductor manufacturer’s stock after selling 8,799 shares during the quarter. Truist Financial Corp’s holdings in Skyworks Solutions were worth $4,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Barclays PLC grew its holdings in Skyworks Solutions by 96.4% during the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after purchasing an additional 949,407 shares during the period. Wellington Management Group LLP raised its holdings in Skyworks Solutions by 52.0% during the third 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 during the period. Mizuho Securities USA LLC lifted its position in shares of Skyworks Solutions by 5,769.6% in the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer’s stock valued at $71,708,000 after acquiring an additional 713,636 shares in the last quarter. KBC Group NV boosted its stake in shares of Skyworks Solutions by 114.0% in the fourth quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock worth $110,697,000 after acquiring an additional 664,874 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Skyworks Solutions by 25.3% during the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock worth $152,915,000 after purchasing an additional 325,672 shares in the last quarter. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Price Performance

Shares of SWKS stock opened at $66.53 on Tuesday. The company’s 50-day simple moving average is $84.00 and its two-hundred day simple moving average is $91.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. Skyworks Solutions, Inc. has a one year low of $62.01 and a one year high of $120.86. The company has a market capitalization of $10.69 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.79 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. As a group, equities analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, February 24th. Skyworks Solutions’s dividend payout ratio (DPR) is 85.89%.

Wall Street Analyst Weigh In

SWKS has been the topic of a number of research analyst reports. Bank of America lowered their price target on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a report on Thursday, February 6th. Susquehanna dropped their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Morgan Stanley decreased their price target on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler cut their price objective on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.78.

Skyworks Solutions 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.