Federated Hermes Inc. Increases Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Federated Hermes Inc. grew its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 7,517.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 263,102 shares of the semiconductor manufacturer’s stock after buying an additional 259,648 shares during the period. Federated Hermes Inc. owned 0.17% of Skyworks Solutions worth $17,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SWKS. Pzena Investment Management LLC lifted its holdings in shares of Skyworks Solutions by 37.9% during the 1st quarter. Pzena Investment Management LLC now owns 7,762,896 shares of the semiconductor manufacturer’s stock valued at $501,716,000 after acquiring an additional 2,132,847 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Skyworks Solutions by 4,364.4% during the 4th quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer’s stock valued at $126,072,000 after acquiring an additional 1,389,803 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in Skyworks Solutions by 29.2% in the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer’s stock worth $469,162,000 after buying an additional 1,194,782 shares in the last quarter. Invesco Ltd. lifted its holdings in Skyworks Solutions by 17.1% in the 4th quarter. Invesco Ltd. now owns 3,161,697 shares of the semiconductor manufacturer’s stock worth $280,379,000 after buying an additional 462,264 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Skyworks Solutions by 1,844.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 447,727 shares of the semiconductor manufacturer’s stock worth $28,937,000 after buying an additional 424,698 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $67.69 on Friday. The firm has a market cap of $10.16 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The firm’s 50-day simple moving average is $72.83 and its 200-day simple moving average is $70.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 4.95. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $110.76.

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

Skyworks Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions’s dividend payout ratio is currently 109.80%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Susquehanna boosted their price objective on shares of Skyworks Solutions from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Barclays boosted their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, May 8th. The Goldman Sachs Group assumed coverage on shares of Skyworks Solutions in a report on Thursday, July 10th. They issued a “sell” rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.07.

Skyworks Solutions Company 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.