Federated Hermes Inc. Has $868,000 Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Federated Hermes Inc. reduced its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 34.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,181 shares of the semiconductor manufacturer’s stock after selling 5,412 shares during the period. Federated Hermes Inc.’s holdings in Skyworks Solutions were worth $868,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. First Trust Advisors LP lifted its holdings in Skyworks Solutions by 7.0% in the third quarter. First Trust Advisors LP now owns 1,115,831 shares of the semiconductor manufacturer’s stock valued at $95,146,000 after buying an additional 73,430 shares during the period. Financial Advocates Investment Management raised its holdings in shares of Skyworks Solutions by 17.9% during the third quarter. Financial Advocates Investment Management now owns 3,303 shares of the semiconductor manufacturer’s stock worth $227,000 after acquiring an additional 502 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Skyworks Solutions by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 1,881,957 shares of the semiconductor manufacturer’s stock worth $160,476,000 after acquiring an additional 52,897 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of Skyworks Solutions during the third quarter worth $1,369,000. Finally, Belpointe Asset Management LLC raised its holdings in shares of Skyworks Solutions by 32.9% during the third quarter. Belpointe Asset Management LLC now owns 3,676 shares of the semiconductor manufacturer’s stock worth $314,000 after acquiring an additional 911 shares during the period. 75.37% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Trading Down 0.0 %

Shares of Skyworks Solutions stock opened at $111.27 on Tuesday. The firm has a market capitalization of $17.69 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.29. The company has a current ratio of 2.79, a quick ratio of 1.75 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $109.14 and its 200 day moving average is $98.12. Skyworks Solutions, Inc. has a 1 year low of $76.16 and a 1 year high of $141.26.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last announced its quarterly earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.59. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. Skyworks Solutions had a net margin of 22.33% and a return on equity of 28.65%. The firm’s revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.90 EPS. Equities research analysts forecast that Skyworks Solutions, Inc. will post 8.22 earnings per share for the current fiscal year.

Skyworks Solutions declared that its board has initiated a share buyback plan on Monday, February 6th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 11.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 21st. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, February 27th. Skyworks Solutions’s payout ratio is 33.83%.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Reza Kasnavi sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $120.03, for a total transaction of $360,090.00. Following the sale, the senior vice president now directly owns 16,994 shares of the company’s stock, valued at approximately $2,039,789.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Karilee A. Durham sold 2,716 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $110.00, for a total transaction of $298,760.00. Following the transaction, the senior vice president now owns 13,428 shares in the company, valued at approximately $1,477,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Reza Kasnavi sold 3,000 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $120.03, for a total transaction of $360,090.00. Following the transaction, the senior vice president now owns 16,994 shares in the company, valued at approximately $2,039,789.82. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

SWKS has been the subject of a number of analyst reports. Piper Sandler raised their target price on shares of Skyworks Solutions from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, February 7th. B. Riley raised their target price on shares of Skyworks Solutions from $95.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. JPMorgan Chase & Co. raised their target price on shares of Skyworks Solutions from $95.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Susquehanna lifted their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Finally, Raymond James reissued a “market perform” rating on shares of Skyworks Solutions in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.26.

About Skyworks Solutions

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.