Bank of Nova Scotia Sells 11,618 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Bank of Nova Scotia reduced its stake in Skyworks Solutions by 54.5% in the first quarter, now holding 9,695 shares worth $627,000.
• Analyst ratings for Skyworks Solutions vary, with a consensus rating of "Hold" and average price target of $72.87, while some analysts have issued sell ratings and others a buy.
• Skyworks Solutions has recently increased its quarterly dividend from $0.70 to $0.71, representing a 4.0% dividend yield with an annualized payout of $2.84.

Bank of Nova Scotia lessened its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 54.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,695 shares of the semiconductor manufacturer's stock after selling 11,618 shares during the period. Bank of Nova Scotia's holdings in Skyworks Solutions were worth $627,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in Skyworks Solutions in the 4th quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Skyworks Solutions by 60.1% during 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 during the period. Brown Lisle Cummings Inc. increased its holdings in shares of Skyworks Solutions by 450.7% during 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 during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Skyworks Solutions during the first quarter worth approximately $52,000. Finally, Quadrant Capital Group LLC increased its stake in Skyworks Solutions by 53.2% in the fourth quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer's stock valued at $56,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 85.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SWKS. Susquehanna lifted their price objective on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Mizuho boosted their target price on shares of Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen raised shares of Skyworks Solutions from a "hold" rating to a "buy" rating in a research note on Saturday. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $72.87.

Skyworks Solutions Stock Up 3.7%

SWKS stock traded up $2.53 during trading on Friday, reaching $71.08. The stock had a trading volume of 2,595,941 shares, compared to its average volume of 2,594,671. The company has a quick ratio of 1.80, a current ratio of 2.39 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 1.79 and a beta of 1.13. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $110.76. The company's 50 day moving average is $72.71 and its two-hundred day moving average is $69.32.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.09. The firm had revenue of $965.00 million for the quarter, compared to analysts' expectations of $940.00 million. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The company's quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.21 earnings per share. Equities research analysts forecast that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, August 26th. This is an increase from Skyworks Solutions's previous quarterly dividend of $0.70. Skyworks Solutions's dividend payout ratio is currently 112.00%.

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.