Entropy Technologies LP Purchases 20,289 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Entropy Technologies LP increased its stake in Skyworks Solutions by 229.7%, purchasing an additional 20,289 shares, bringing its total holdings to 29,123 shares valued at approximately $1.88 million.
• Skyworks Solutions recently declared a quarterly dividend of $0.71 per share, marking an increase from the previous $0.70, with an annual yield of 4.0%.
• The company reported $1.33 earnings per share for the last quarter, exceeding analyst expectations, with a revenue of $965 million, reflecting a year-over-year growth of 6.6%.

Entropy Technologies LP grew its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 229.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,123 shares of the semiconductor manufacturer's stock after purchasing an additional 20,289 shares during the quarter. Entropy Technologies LP's holdings in Skyworks Solutions were worth $1,882,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SWKS. Trexquant Investment LP bought a new stake in shares of Skyworks Solutions in the 4th quarter valued at $414,000. Federated Hermes Inc. boosted its stake in shares of 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 boosted its stake in Skyworks Solutions by 9.8% during the fourth quarter. Cerity Partners LLC now owns 28,338 shares of the semiconductor manufacturer's stock worth $2,579,000 after acquiring an additional 2,521 shares in the last quarter. Bank of Montreal Can boosted its stake in Skyworks Solutions by 5.0% during the fourth quarter. Bank of Montreal Can now owns 179,128 shares of the semiconductor manufacturer's stock worth $15,885,000 after acquiring an additional 8,564 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Skyworks Solutions by 4.0% during the fourth quarter. Bank of Nova Scotia now owns 21,313 shares of the semiconductor manufacturer's stock worth $1,890,000 after acquiring an additional 827 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Stock Performance

SWKS opened at $71.08 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.80 and a debt-to-equity ratio of 0.09. The company's fifty day moving average price is $72.71 and its two-hundred day moving average price is $69.32. Skyworks Solutions, Inc. has a 1-year low of $47.93 and a 1-year high of $110.76. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.79 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, beating analysts' consensus estimates of $1.24 by $0.09. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $940.00 million. During the same period last year, the firm earned $1.21 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. On average, analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS 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. Shareholders of record on Tuesday, August 26th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend 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 currently 112.00%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Cfra Research raised shares of Skyworks Solutions to a "moderate sell" rating in a research note on Wednesday, August 6th. 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 target price on the stock. JPMorgan Chase & Co. cut 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. Finally, Mizuho increased 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. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Skyworks Solutions presently has a consensus rating of "Hold" and an average 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.

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