Allianz Asset Management GmbH Sells 16,858 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Allianz Asset Management GmbH reduced its stake in Skyworks Solutions, Inc. by 7.9% in the first quarter, selling 16,858 shares, leaving them with 195,743 shares valued at approximately $12.65 million.
• Skyworks Solutions recently declared a quarterly dividend of $0.70 per share, representing an annualized rate of $2.80 and a yield of 3.91%, with a current payout ratio of 109.80%.
• Despite a decline in quarterly revenue, Skyworks Solutions reported $1.24 earnings per share, surpassing analyst expectations of $1.20 and indicating a return on equity of 11.53%.

Allianz Asset Management GmbH cut its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,743 shares of the semiconductor manufacturer's stock after selling 16,858 shares during the period. Allianz Asset Management GmbH owned about 0.12% of Skyworks Solutions worth $12,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its position in Skyworks Solutions by 459.7% during the first quarter. Lindbrook Capital LLC now owns 2,989 shares of the semiconductor manufacturer's stock valued at $193,000 after purchasing an additional 2,455 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Skyworks Solutions by 2.6% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 12,273 shares of the semiconductor manufacturer's stock valued at $793,000 after purchasing an additional 308 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Skyworks Solutions in the first quarter valued at about $52,000. Pzena Investment Management LLC lifted its position in shares of Skyworks Solutions by 37.9% in the first 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. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of Skyworks Solutions by 47.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 14,237 shares of the semiconductor manufacturer's stock valued at $921,000 after acquiring an additional 4,588 shares in the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SWKS. UBS Group boosted their price objective on Skyworks Solutions from $65.00 to $75.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Barclays boosted their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group began coverage on Skyworks Solutions in a research report on Thursday, July 10th. They issued a "sell" rating and a $70.00 price objective on the stock. Mizuho boosted their price objective on Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, Susquehanna boosted their price objective on Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $78.18.

Skyworks Solutions Trading Down 0.6%

SWKS stock traded down $0.44 during midday trading on Tuesday, reaching $70.88. 473,990 shares of the company traded hands, compared to its average volume of 3,513,112. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week high of $120.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 4.95. The business has a 50 day moving average of $72.93 and a 200-day moving average of $70.78. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.79 and a beta of 1.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $953.20 million for the quarter, compared to the consensus estimate of $951.50 million. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The company's quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, sell-side analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.95%. Skyworks Solutions's dividend payout ratio is 109.80%.

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.