Mitsubishi UFJ Asset Management Co. Ltd. Purchases 40,867 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 17.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 272,600 shares of the semiconductor manufacturer’s stock after acquiring an additional 40,867 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Skyworks Solutions worth $24,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Erste Asset Management GmbH bought a new stake in shares of Skyworks Solutions during the third quarter worth about $27,000. Golden State Wealth Management LLC acquired a new stake in Skyworks Solutions during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. bought a new stake in Skyworks Solutions during the 4th quarter worth approximately $29,000. Picton Mahoney Asset Management acquired a new position in Skyworks Solutions in the 4th quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new position in shares of Skyworks Solutions during the third quarter valued at $41,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was acquired at an average cost of $66.13 per share, with a total value of $661,300.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $661,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $64.12 on Monday. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $73.20 and a 200 day simple moving average of $85.34. Skyworks Solutions, Inc. has a 12-month low of $62.01 and a 12-month high of $120.86. The company has a market cap of $10.31 billion, a P/E ratio of 19.67, a PEG ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS 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%. Sell-side analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were issued a $0.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.37%. Skyworks Solutions’s dividend payout ratio is presently 85.89%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SWKS shares. Piper Sandler reduced 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. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Bank of America reduced their target price on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Finally, Argus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently 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.