Alps Advisors Inc. Purchases 83,740 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Alps Advisors Inc. raised its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 30.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 360,417 shares of the semiconductor manufacturer's stock after purchasing an additional 83,740 shares during the period. Alps Advisors Inc. owned approximately 0.23% of Skyworks Solutions worth $23,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SWKS. SBI Securities Co. Ltd. bought a new stake in Skyworks Solutions in the 4th quarter valued at $29,000. Picton Mahoney Asset Management bought a new stake in Skyworks Solutions in the fourth quarter valued at about $33,000. Mattson Financial Services LLC acquired a new position in Skyworks Solutions in the fourth quarter worth about $37,000. MassMutual Private Wealth & Trust FSB raised its position in Skyworks Solutions by 60.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 223 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Skyworks Solutions by 450.7% in the first quarter. Brown Lisle Cummings Inc. now owns 771 shares of the semiconductor manufacturer's stock worth $50,000 after purchasing an additional 631 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research report on Thursday, May 8th. Barclays increased their price target on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on shares of Skyworks Solutions in a report on Thursday. They set a "sell" rating and a $70.00 price objective for the company. Finally, UBS Group dropped their price objective on shares of Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Skyworks Solutions presently has an average rating of "Hold" and an average price target of $79.06.

Skyworks Solutions Trading Down 2.4%

SWKS stock traded down $1.86 during midday trading on Friday, reaching $75.84. The company's stock had a trading volume of 1,069,306 shares, compared to its average volume of 3,658,610. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $120.86. The stock has a market cap of $11.39 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a quick ratio of 3.84, a current ratio of 4.95 and a debt-to-equity ratio of 0.17. The business's 50-day simple moving average is $72.17 and its 200-day simple moving average is $72.48.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced 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. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. The firm had revenue of $953.20 million for the quarter, compared to analysts' expectations of $951.50 million. During the same period last year, the firm earned $1.55 earnings per share. The business's revenue for the quarter was down 8.9% on a year-over-year basis. As a group, sell-side analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given 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 3.69%. Skyworks Solutions's dividend payout ratio is 109.80%.

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, 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.