Deutsche Bank AG Sells 34,376 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Deutsche Bank AG has reduced its stake in Skyworks Solutions, Inc. by 4.5%, now holding shares worth approximately $46.78 million after selling 34,376 shares in the first quarter.
• Skyworks Solutions reported an earnings per share (EPS) of $1.33 in the last quarter, exceeding analysts' expectations, while its revenue rose to $965 million, up 6.6% from the previous year.
• The company has announced an increase in its quarterly dividend to $0.71 per share, resulting in an annualized dividend yield of 4.0%, with the ex-dividend date set for August 26th.

Deutsche Bank AG decreased its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 723,778 shares of the semiconductor manufacturer's stock after selling 34,376 shares during the quarter. Deutsche Bank AG owned approximately 0.46% of Skyworks Solutions worth $46,778,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SWKS. Federated Hermes Inc. raised its position in Skyworks Solutions by 238.6% in the 4th quarter. Federated Hermes Inc. now owns 3,454 shares of the semiconductor manufacturer's stock valued at $306,000 after purchasing an additional 2,434 shares during the last quarter. Cerity Partners LLC raised its position in Skyworks Solutions by 9.8% in the 4th quarter. Cerity Partners LLC now owns 28,338 shares of the semiconductor manufacturer's stock valued at $2,579,000 after purchasing an additional 2,521 shares during the last quarter. Bank of Nova Scotia raised its position in Skyworks Solutions by 4.0% in the 4th quarter. Bank of Nova Scotia now owns 21,313 shares of the semiconductor manufacturer's stock valued at $1,890,000 after purchasing an additional 827 shares during the last quarter. Raymond James Financial Inc. bought a new position in Skyworks Solutions in the 4th quarter valued at $7,947,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in Skyworks Solutions in the 4th quarter valued at $3,740,000. Institutional investors own 85.43% of the company's stock.

Skyworks Solutions Stock Up 2.7%

NASDAQ SWKS traded up $1.96 during trading hours on Wednesday, hitting $73.65. 1,915,087 shares of the company traded hands, compared to its average volume of 2,640,162. The business's 50-day moving average is $72.81 and its 200-day moving average is $69.22. Skyworks Solutions, Inc. has a twelve month low of $47.93 and a twelve month high of $110.76. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.80 and a current ratio of 2.39. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 1.61 and a beta of 1.13.

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

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors 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 yield of 3.9%. This is a boost from Skyworks Solutions's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, August 26th. Skyworks Solutions's payout ratio is currently 112.00%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cfra Research upgraded Skyworks Solutions to a "moderate sell" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. dropped their target price on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Skyworks Solutions in a research report on Thursday, July 10th. They set a "sell" rating and a $70.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Finally, Barclays upped their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Skyworks Solutions presently has an average rating of "Hold" and a consensus price target of $72.87.

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.