Commerce Bank lessened its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 12.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,950 shares of the semiconductor manufacturer’s stock after selling 1,001 shares during the period. Commerce Bank’s holdings in Skyworks Solutions were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Edmp Inc. grew its position in Skyworks Solutions by 8,838.8% in the 4th quarter. Edmp Inc. now owns 3,399,240 shares of the semiconductor manufacturer’s stock valued at $37,301,000 after buying an additional 3,361,212 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Skyworks Solutions by 74.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,160,288 shares of the semiconductor manufacturer’s stock valued at $379,127,000 after acquiring an additional 1,781,488 shares in the last quarter. Norges Bank acquired a new position in shares of Skyworks Solutions during the fourth quarter worth about $152,111,000. DekaBank Deutsche Girozentrale raised its holdings in Skyworks Solutions by 1,169.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 954,234 shares of the semiconductor manufacturer’s stock worth $111,194,000 after purchasing an additional 879,071 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in Skyworks Solutions in the first quarter valued at about $64,228,000. 78.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SWKS has been the subject of a number of analyst reports. BMO Capital Markets downgraded Skyworks Solutions from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $140.00 to $100.00 in a research note on Tuesday, May 9th. UBS Group decreased their target price on shares of Skyworks Solutions from $110.00 to $105.00 in a research report on Tuesday, May 9th. Robert W. Baird cut their price target on shares of Skyworks Solutions from $110.00 to $100.00 in a report on Tuesday, May 9th. Argus decreased their price objective on shares of Skyworks Solutions from $160.00 to $140.00 in a report on Wednesday, May 10th. Finally, StockNews.com cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.92.
Get Our Latest Analysis on SWKS
Skyworks Solutions Trading Up 0.8 %
Shares of SWKS stock opened at $110.17 on Tuesday. The firm’s 50-day simple moving average is $109.31 and its 200-day simple moving average is $109.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.91 and a quick ratio of 1.83. Skyworks Solutions, Inc. has a 1-year low of $76.16 and a 1-year high of $123.69. The firm has a market cap of $17.53 billion, a P/E ratio of 15.90, a PEG ratio of 0.99 and a beta of 1.27.
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The semiconductor manufacturer reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.30. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Skyworks Solutions had a net margin of 21.70% and a return on equity of 26.38%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.12 EPS. As a group, equities analysts forecast that Skyworks Solutions, Inc. will post 7.36 EPS for the current year.
Skyworks Solutions Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 29th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.62. Skyworks Solutions’s payout ratio is currently 35.79%.
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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
Featured Stories
Want to see what other hedge funds are holding SWKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report).
Receive News & Ratings for Skyworks Solutions Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Skyworks Solutions and related companies with MarketBeat.com’s FREE daily email newsletter.