Commerce Bank Reduces Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Commerce Bank has reduced its stake in Skyworks Solutions, Inc. by 60.8%, selling 40,424 shares and leaving it with 26,054 shares valued at approximately $1.68 million.
• Skyworks Solutions reported a quarterly earnings per share (EPS) of $1.24, exceeding analyst expectations, but its revenue saw an 8.9% decline year-over-year.
• The company declared a quarterly dividend of $0.70 per share, with an annualized yield of 4.1%, although its payout ratio stands at 109.80%.

Commerce Bank decreased its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,054 shares of the semiconductor manufacturer's stock after selling 40,424 shares during the quarter. Commerce Bank's holdings in Skyworks Solutions were worth $1,684,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Hoxton Planning & Management LLC bought a new position in shares of Skyworks Solutions during the 1st quarter worth approximately $201,000. Clark Estates Inc. NY bought a new position in Skyworks Solutions in the first quarter valued at $1,306,000. Howard Capital Management Inc. boosted its holdings in shares of Skyworks Solutions by 1.0% in the 1st quarter. Howard Capital Management Inc. now owns 34,376 shares of the semiconductor manufacturer's stock worth $2,222,000 after purchasing an additional 357 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Skyworks Solutions by 138.1% in the 1st quarter. Bayforest Capital Ltd now owns 7,511 shares of the semiconductor manufacturer's stock worth $485,000 after purchasing an additional 4,356 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Skyworks Solutions by 180.3% in the 1st quarter. XTX Topco Ltd now owns 17,372 shares of the semiconductor manufacturer's stock worth $1,123,000 after purchasing an additional 11,175 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.

Analyst Ratings Changes

SWKS has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Barclays boosted their price target on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Skyworks Solutions in a research note on Thursday, July 10th. They set a "sell" rating and a $70.00 price objective for the company. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $72.87.

Skyworks Solutions Stock Performance

SWKS stock traded up $2.51 on Friday, hitting $71.06. The company had a trading volume of 1,011,007 shares, compared to its average volume of 3,512,736. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $110.76. The company has a current ratio of 2.39, a quick ratio of 3.84 and a debt-to-equity ratio of 0.09. The stock's 50-day simple moving average is $72.66 and its 200 day simple moving average is $69.79. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 1.69 and a beta of 1.13.

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

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, August 26th. This is a positive change from Skyworks Solutions's previous quarterly dividend of $0.70. Skyworks Solutions's payout ratio is 113.60%.

Skyworks Solutions Company 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.