Letko Brosseau & Associates Inc. Lowers Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Letko Brosseau & Associates Inc. reduced its stake in Skyworks Solutions, Inc. by 2.9%, owning 731,087 shares valued at approximately $47.25 million at the end of the last quarter.
• The company reported a 1.24 EPS for the quarter, surpassing estimates, although revenue decreased by 8.9% year-over-year, totaling $953.20 million.
• Skyworks recently announced a quarterly dividend of $0.70 per share, resulting in an annualized yield of 3.89%, despite a high payout ratio of 109.80%.

Letko Brosseau & Associates Inc. lessened its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 731,087 shares of the semiconductor manufacturer's stock after selling 21,588 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.47% of Skyworks Solutions worth $47,250,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Pzena Investment Management LLC grew its holdings in shares of Skyworks Solutions by 37.9% during the first quarter. Pzena Investment Management LLC now owns 7,762,896 shares of the semiconductor manufacturer's stock worth $501,716,000 after buying an additional 2,132,847 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Skyworks Solutions by 4,364.4% during the fourth quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer's stock worth $126,072,000 after buying an additional 1,389,803 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in shares of Skyworks Solutions by 29.2% during the fourth quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock worth $469,162,000 after buying an additional 1,194,782 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Skyworks Solutions by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 2,765,410 shares of the semiconductor manufacturer's stock worth $245,237,000 after buying an additional 497,575 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Skyworks Solutions by 17.1% during the fourth quarter. Invesco Ltd. now owns 3,161,697 shares of the semiconductor manufacturer's stock worth $280,379,000 after buying an additional 462,264 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SWKS. Mizuho raised their price target on Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Barclays raised their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a research report on Thursday, May 8th. Finally, UBS Group raised their price objective on shares of Skyworks Solutions from $65.00 to $75.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $74.07.

Skyworks Solutions Price Performance

Shares of SWKS traded down $0.85 during mid-day trading on Friday, reaching $67.69. 2,676,285 shares of the company's stock were exchanged, compared to its average volume of 2,025,519. The company has a quick ratio of 3.84, a current ratio of 4.95 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $72.83 and a two-hundred day simple moving average of $70.48. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week high of $110.76. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.72 and a beta of 1.14.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $953.20 million during the quarter, compared to analysts' expectations of $951.50 million. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. Skyworks Solutions's revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. On average, sell-side analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS 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. This represents a $2.80 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions's payout ratio is presently 109.80%.

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.