Principal Financial Group Inc. Purchases 6,302 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Principal Financial Group Inc. boosted its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 200,873 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,302 shares during the period. Principal Financial Group Inc. owned 0.13% of Skyworks Solutions worth $19,840,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SWKS. Forsta AP Fonden lifted its holdings in Skyworks Solutions by 27.0% during the 3rd quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after purchasing an additional 7,900 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Skyworks Solutions by 73.3% in the first quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock worth $1,740,000 after buying an additional 6,795 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Skyworks Solutions by 25.3% in the third quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock valued at $152,915,000 after acquiring an additional 325,672 shares during the period. M&G Plc purchased a new position in Skyworks Solutions during the second quarter valued at approximately $797,000. Finally, Canada Pension Plan Investment Board grew its stake in Skyworks Solutions by 294.2% during the first quarter. Canada Pension Plan Investment Board now owns 218,780 shares of the semiconductor manufacturer’s stock valued at $23,698,000 after acquiring an additional 163,285 shares in the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $84.00 on Friday. The company has a market capitalization of $13.42 billion, a P/E ratio of 22.70, a PEG ratio of 3.95 and a beta of 1.21. Skyworks Solutions, Inc. has a fifty-two week low of $82.13 and a fifty-two week high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. The stock has a 50 day moving average price of $95.44 and a two-hundred day moving average price of $100.37.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.95 EPS. Analysts expect that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. Skyworks Solutions’s payout ratio is presently 75.68%.

Insider Activity at Skyworks Solutions

In other news, SVP Robert John Terry sold 10,522 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares in the company, valued at $3,793,589.91. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,841 shares of company stock worth $3,034,265 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

SWKS has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday. Mizuho lowered their price objective on Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday, July 31st. Piper Sandler decreased their target price on Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Rosenblatt Securities lifted their price target on Skyworks Solutions from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.00.

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.