Truist Financial Corp Sells 191,068 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Truist Financial Corp trimmed its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 71.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,569 shares of the semiconductor manufacturer’s stock after selling 191,068 shares during the period. Truist Financial Corp’s holdings in Skyworks Solutions were worth $8,267,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Skyworks Solutions by 4.0% in the first quarter. Vanguard Group Inc. now owns 19,401,952 shares of the semiconductor manufacturer’s stock valued at $2,101,619,000 after acquiring an additional 745,374 shares during the period. Vulcan Value Partners LLC lifted its stake in shares of Skyworks Solutions by 38.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer’s stock worth $481,552,000 after acquiring an additional 1,262,964 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Skyworks Solutions by 19.3% during the 2nd quarter. Pzena Investment Management LLC now owns 4,090,292 shares of the semiconductor manufacturer’s stock valued at $435,943,000 after acquiring an additional 661,144 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Skyworks Solutions by 54.9% during the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer’s stock valued at $370,768,000 after purchasing an additional 1,233,618 shares during the period. Finally, FIL Ltd grew its holdings in shares of Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after purchasing an additional 64,389 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Stock Up 0.1 %

NASDAQ:SWKS opened at $96.83 on Friday. The company has a market cap of $15.54 billion, a PE ratio of 18.20, a P/E/G ratio of 4.42 and a beta of 1.20. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a twelve month low of $85.06 and a twelve month high of $120.86. The company’s 50 day moving average is $103.02 and its two-hundred day moving average is $102.44.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The firm had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company’s revenue was down 15.5% compared to the same quarter last year. Analysts anticipate that Skyworks Solutions, Inc. will post 5.21 EPS for the current year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.70 per share. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Tuesday, August 20th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 52.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SWKS. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, July 31st. The Goldman Sachs Group raised Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Skyworks Solutions from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus upped their price target on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Susquehanna reissued a “neutral” rating and set a $125.00 price objective on shares of Skyworks Solutions in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Skyworks Solutions currently has an average rating of “Hold” and a consensus price target of $114.18.

Insider Buying and Selling at Skyworks Solutions

In other news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now owns 9,112 shares of the company’s stock, valued at $1,093,440. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total transaction of $54,240.00. Following the sale, the vice president now directly owns 9,112 shares in the company, valued at $1,093,440. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the transaction, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,068 shares of company stock worth $1,252,490. Insiders own 0.34% of the company’s stock.

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.