Allspring Global Investments Holdings LLC Sells 3,894 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Allspring Global Investments Holdings LLC reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,395 shares of the semiconductor manufacturer’s stock after selling 3,894 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Skyworks Solutions worth $6,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Skyworks Solutions by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer’s stock valued at $1,803,915,000 after buying an additional 562,783 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Skyworks Solutions by 37.5% during the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock valued at $499,273,000 after acquiring an additional 1,536,289 shares during the period. Vulcan Value Partners LLC lifted its position in shares of Skyworks Solutions by 29.2% in the fourth quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer’s stock valued at $469,162,000 after acquiring an additional 1,194,782 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Skyworks Solutions by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer’s stock worth $372,727,000 after acquiring an additional 63,216 shares during the period. Finally, FIL Ltd boosted its stake in shares of Skyworks Solutions by 0.3% in the fourth quarter. FIL Ltd now owns 3,502,951 shares of the semiconductor manufacturer’s stock worth $310,642,000 after acquiring an additional 10,664 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $76.49 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. The firm has a 50-day moving average of $71.04 and a two-hundred day moving average of $72.69. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $953.20 million during the quarter, compared to the consensus estimate of $951.50 million. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. The company’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, research analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.66%. Skyworks Solutions’s payout ratio is presently 109.80%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Mizuho increased their price objective on shares of Skyworks Solutions from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Barclays upped their target price on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, May 8th. Finally, UBS Group cut their target price on shares of Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.06.

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.