Intrust Bank NA Reduces Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Intrust Bank NA trimmed its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,495 shares of the semiconductor manufacturer’s stock after selling 1,639 shares during the quarter. Intrust Bank NA’s holdings in Skyworks Solutions were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Skyworks Solutions by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,533,014 shares of the semiconductor manufacturer’s stock worth $1,827,170,000 after buying an additional 53,389 shares during the last quarter. Victory Capital Management Inc. grew its stake in Skyworks Solutions by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after buying an additional 136,188 shares during the last quarter. Invesco Ltd. grew its stake in Skyworks Solutions by 11.8% during the 3rd quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock worth $299,245,000 after buying an additional 321,243 shares during the last quarter. Northern Trust Corp grew its stake in Skyworks Solutions by 8.3% during the 3rd quarter. Northern Trust Corp now owns 2,091,132 shares of the semiconductor manufacturer’s stock worth $206,165,000 after buying an additional 160,178 shares during the last quarter. Finally, LSV Asset Management grew its stake in Skyworks Solutions by 24.2% during the 3rd quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock valued at $171,675,000 after purchasing an additional 338,820 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Rosenblatt Securities dropped their price target on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday. Benchmark downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company dropped their price target on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Susquehanna reiterated a “neutral” rating and set a $90.00 price target (down previously from $125.00) on shares of Skyworks Solutions in a research note on Wednesday. Finally, KeyCorp downgraded Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $109.05.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $90.30 on Thursday. The stock has a 50-day moving average of $104.21 and a 200 day moving average of $101.99. Skyworks Solutions, Inc. has a twelve month low of $85.06 and a twelve month high of $115.69. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.98 and a beta of 1.35. The company has a current ratio of 5.02, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a return on equity of 17.20% and a net margin of 18.85%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $2.33 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.01%. Skyworks Solutions’s payout ratio is currently 51.13%.

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.