M&T Bank Corp Raises Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

M&T Bank Corp grew its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 32.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,450 shares of the semiconductor manufacturer's stock after acquiring an additional 4,007 shares during the period. M&T Bank Corp's holdings in Skyworks Solutions were worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Skyworks Solutions by 91.5% during the first quarter. Envestnet Asset Management Inc. now owns 474,852 shares of the semiconductor manufacturer's stock valued at $30,690,000 after acquiring an additional 226,938 shares during the last quarter. Simmons Bank raised its stake in Skyworks Solutions by 4.5% in the first quarter. Simmons Bank now owns 5,807 shares of the semiconductor manufacturer's stock worth $375,000 after buying an additional 250 shares in the last quarter. Eukles Asset Management raised its stake in Skyworks Solutions by 5.4% in the first quarter. Eukles Asset Management now owns 20,388 shares of the semiconductor manufacturer's stock worth $1,318,000 after buying an additional 1,041 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in Skyworks Solutions by 91.5% in the first quarter. Capital Investment Advisory Services LLC now owns 4,509 shares of the semiconductor manufacturer's stock worth $291,000 after buying an additional 2,155 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Skyworks Solutions by 10.5% in the first quarter. IFM Investors Pty Ltd now owns 34,751 shares of the semiconductor manufacturer's stock worth $2,246,000 after buying an additional 3,309 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Stock Down 0.9%

Shares of NASDAQ:SWKS traded down $0.67 during trading on Thursday, reaching $72.20. 2,348,462 shares of the stock traded hands, compared to its average volume of 3,008,491. The stock has a 50-day moving average of $72.88 and a two-hundred day moving average of $71.92. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week high of $120.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 4.95. The stock has a market cap of $10.84 billion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $951.50 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. The business's revenue for the quarter was down 8.9% on a year-over-year basis. As a group, sell-side analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions's payout ratio is 109.80%.

Wall Street Analyst Weigh In

SWKS has been the subject of a number of research reports. UBS Group decreased their price target on shares of Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Mizuho increased their price target 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. The Goldman Sachs Group initiated coverage on shares of Skyworks Solutions in a research note on Thursday, July 10th. They issued a "sell" rating and a $70.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Finally, Stifel Nicolaus increased their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $79.06.

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.