Equitable Trust Co. cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 89.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,151 shares of the semiconductor manufacturer's stock after selling 43,751 shares during the quarter. Equitable Trust Co.'s holdings in Skyworks Solutions were worth $333,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mattson Financial Services LLC purchased a new position in shares of Skyworks Solutions in the 4th quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB grew its position in Skyworks Solutions by 60.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 223 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in Skyworks Solutions by 450.7% in the 1st quarter. Brown Lisle Cummings Inc. now owns 771 shares of the semiconductor manufacturer's stock valued at $50,000 after buying an additional 631 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Skyworks Solutions in the 1st quarter valued at $52,000. Finally, Quadrant Capital Group LLC raised its position in Skyworks Solutions by 53.2% during the 4th quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer's stock worth $56,000 after buying an additional 218 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.
Skyworks Solutions Price Performance
Skyworks Solutions stock traded down $0.85 during mid-day trading on Wednesday, hitting $71.09. 747,530 shares of the company were exchanged, compared to its average volume of 3,507,238. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $114.16. The company has a market capitalization of $10.67 billion, a P/E ratio of 27.85, a PEG ratio of 1.79 and a beta of 1.17. The business's 50 day simple moving average is $72.90 and its two-hundred day simple moving average is $70.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84.
Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. The firm had revenue of $953.20 million during the quarter, compared to the consensus estimate of $951.50 million. During the same quarter in the previous year, the company posted $1.55 EPS. The firm's revenue for the quarter was down 8.9% on a year-over-year basis. Analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.
Skyworks Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were paid a $0.70 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $2.80 annualized dividend and a yield of 3.94%. Skyworks Solutions's payout ratio is currently 109.80%.
Analyst Upgrades and Downgrades
SWKS has been the topic of several analyst reports. UBS Group lifted their target price on shares of Skyworks Solutions from $65.00 to $75.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Stifel Nicolaus lifted their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Skyworks Solutions in a research note on Thursday, July 10th. They set a "sell" rating and a $70.00 target price for the company. Barclays upped their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, May 8th. Finally, Susquehanna increased their price objective on Skyworks Solutions from $60.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $78.18.
Check Out Our Latest Stock Analysis on Skyworks Solutions
About Skyworks Solutions
(
Free Report)
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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