Allstate Corp Purchases New Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Allstate Corp acquired a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,623 shares of the semiconductor manufacturer’s stock, valued at approximately $410,000.

A number of other large investors also recently modified their holdings of SWKS. Erste Asset Management GmbH purchased a new position in Skyworks Solutions during the third quarter worth about $27,000. Golden State Wealth Management LLC purchased a new position in shares of Skyworks Solutions in the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Skyworks Solutions in the 4th quarter worth approximately $29,000. Picton Mahoney Asset Management bought a new position in shares of Skyworks Solutions in the fourth quarter valued at approximately $33,000. Finally, Manchester Capital Management LLC increased its position in shares of Skyworks Solutions by 325.2% during the fourth quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $49,000 after acquiring an additional 426 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SWKS. Piper Sandler reduced their price objective on Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Mizuho lowered shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. B. Riley downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $65.00 in a report on Thursday, February 6th. Stifel Nicolaus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating and dropped their target price for the company from $105.00 to $62.00 in a research note on Thursday, February 6th. Finally, Barclays decreased their price target on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus price target of $83.78.

Insider Activity

In related news, CEO Philip G. Brace bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average cost of $66.13 per share, with a total value of $661,300.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $661,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $64.80 on Thursday. The company has a 50 day moving average of $71.49 and a 200 day moving average of $84.68. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The stock has a market cap of $10.42 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a 12 month low of $62.01 and a 12 month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. As a group, sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.70 dividend. The ex-dividend date was Monday, February 24th. This represents a $2.80 annualized dividend and a dividend yield of 4.32%. Skyworks Solutions’s payout ratio is currently 85.89%.

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.