Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 960,348 shares of the semiconductor manufacturer’s stock after purchasing an additional 144,357 shares during the quarter. Van ECK Associates Corp owned approximately 0.60% of Skyworks Solutions worth $107,962,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SWKS. Choreo LLC lifted its stake in shares of Skyworks Solutions by 69.4% in the 4th quarter. Choreo LLC now owns 3,936 shares of the semiconductor manufacturer’s stock valued at $442,000 after purchasing an additional 1,612 shares in the last quarter. Mather Group LLC. grew its stake in Skyworks Solutions by 91.8% during the fourth quarter. Mather Group LLC. now owns 5,492 shares of the semiconductor manufacturer’s stock worth $617,000 after buying an additional 2,628 shares during the period. Capital Investment Counsel Inc increased its position in shares of Skyworks Solutions by 2.1% in the fourth quarter. Capital Investment Counsel Inc now owns 33,028 shares of the semiconductor manufacturer’s stock worth $3,713,000 after acquiring an additional 680 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Skyworks Solutions in the 4th quarter valued at $747,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Skyworks Solutions by 4.7% during the 4th quarter. Russell Investments Group Ltd. now owns 539,622 shares of the semiconductor manufacturer’s stock valued at $60,890,000 after acquiring an additional 24,408 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Price Performance

NASDAQ SWKS traded up $0.16 on Tuesday, reaching $108.02. The company’s stock had a trading volume of 776,558 shares, compared to its average volume of 2,274,647. The firm’s 50 day moving average is $104.15 and its two-hundred day moving average is $101.91. The stock has a market cap of $17.31 billion, a PE ratio of 19.23, a PEG ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02. Skyworks Solutions, Inc. has a twelve month low of $85.06 and a twelve month high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. Skyworks Solutions’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 earnings per share. As a group, sell-side analysts predict that Skyworks Solutions, Inc. will post 5.65 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on SWKS shares. StockNews.com cut Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Piper Sandler restated a “neutral” rating and set a $90.00 target price on shares of Skyworks Solutions in a research note on Thursday, January 4th. B. Riley lifted their target price on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. KeyCorp downgraded shares of Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research report on Monday, April 8th. Finally, Susquehanna increased their price objective on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $115.10.

About Skyworks Solutions

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.