Bank of New York Mellon Corp Acquires New Stake in Skyworks Solutions, Inc. $SWKS

Key Points

• Bank of New York Mellon acquired 2.12 million Skyworks Solutions shares worth approximately $143.6 million, giving it a 1.41% stake. Institutional investors collectively own 85.43% of the company.
• Skyworks exceeded quarterly expectations with adjusted EPS of $1.08 versus the $1.03 consensus and revenue of $934.8 million, although revenue declined 3.1% year over year and EPS fell from $1.33.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and an average $74 price target, while shares recently opened at $67.14.

Bank of New York Mellon Corp acquired a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,117,954 shares of the semiconductor manufacturer's stock, valued at approximately $143,597,000. Bank of New York Mellon Corp owned about 1.41% of Skyworks Solutions at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Parallel Advisors LLC increased its stake in shares of Skyworks Solutions by 5.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,233 shares of the semiconductor manufacturer's stock valued at $249,000 after acquiring an additional 163 shares during the last quarter. Beacon Pointe Advisors LLC grew its holdings in Skyworks Solutions by 4.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 4,445 shares of the semiconductor manufacturer's stock valued at $282,000 after purchasing an additional 200 shares during the period. AAFMAA Wealth Management & Trust LLC increased its position in Skyworks Solutions by 3.2% during the second quarter. AAFMAA Wealth Management & Trust LLC now owns 6,899 shares of the semiconductor manufacturer's stock worth $468,000 after purchasing an additional 212 shares during the last quarter. Unison Advisors LLC increased its position in Skyworks Solutions by 1.2% during the first quarter. Unison Advisors LLC now owns 18,418 shares of the semiconductor manufacturer's stock worth $986,000 after purchasing an additional 219 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Skyworks Solutions by 16.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,672 shares of the semiconductor manufacturer's stock worth $106,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

Skyworks Solutions Price Performance

Shares of Skyworks Solutions stock opened at $67.14 on Monday. The business has a 50-day moving average price of $65.50 and a 200 day moving average price of $63.91. Skyworks Solutions, Inc. has a fifty-two week low of $51.93 and a fifty-two week high of $90.90. The firm has a market cap of $10.10 billion, a P/E ratio of 34.79 and a beta of 1.51. The company has a quick ratio of 1.94, a current ratio of 3.10 and a debt-to-equity ratio of 0.09.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $1.08 EPS for the quarter, topping the consensus estimate of $1.03 by $0.05. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%.The company had revenue of $934.80 million during the quarter, compared to analyst estimates of $925.97 million. During the same quarter last year, the firm earned $1.33 EPS. The business's revenue was down 3.1% on a year-over-year basis. Skyworks Solutions has set its Q4 2026 guidance at 1.270-1.270 EPS. On average, sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SWKS. William Blair reaffirmed a "buy" rating on shares of Skyworks Solutions in a research report on Wednesday, July 29th. Loop Capital boosted their price target on Skyworks Solutions from $60.00 to $70.00 in a research report on Wednesday, May 6th. TD Cowen dropped their price target on Skyworks Solutions from $75.00 to $65.00 and set a "hold" rating for the company in a research note on Wednesday, July 29th. Royal Bank Of Canada cut their price objective on Skyworks Solutions from $80.00 to $70.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 29th. Finally, Benchmark reaffirmed a "hold" rating on shares of Skyworks Solutions in a research note on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $74.00.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc is a leading semiconductor company that designs and manufactures analog and mixed-signal semiconductors for use in radio frequency (RF) and mobile communications markets. The company's portfolio includes power amplifiers, front-end modules, switches, filters, low-noise amplifiers, and other components that enable wireless connectivity in smartphones, tablets, wearables, automotive telematics, and broadband infrastructure. With a focus on energy efficiency and integration, Skyworks serves a broad range of customers in the mobile, Internet of Things (IoT), automotive, connected home, and industrial end markets.

Headquartered in Irvine, California, Skyworks operates a network of design, development, and manufacturing facilities across North America, Europe, and the Asia-Pacific region.

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