Ontario Teachers Pension Plan Board Grows Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in Skyworks Solutions by 109.2%, acquiring an additional 11,855 shares, bringing its total to 22,714 shares valued at approximately $1.47 million.
• Skyworks Solutions reported earnings of $1.33 per share for the recent quarter, exceeding analysts' expectations, with revenue reaching $965 million, up 6.6% from the previous year.
• The company announced a quarterly dividend increase to $0.71 per share, representing a 4.1% yield, while its dividend payout ratio stands at 113.60%.

Ontario Teachers Pension Plan Board increased its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 109.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,714 shares of the semiconductor manufacturer's stock after acquiring an additional 11,855 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Skyworks Solutions were worth $1,468,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SWKS. Vanguard Group Inc. increased its holdings in Skyworks Solutions by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 20,739,480 shares of the semiconductor manufacturer's stock valued at $1,340,393,000 after buying an additional 397,638 shares during the period. Pzena Investment Management LLC increased its holdings in Skyworks Solutions by 37.9% in the 1st quarter. Pzena Investment Management LLC now owns 7,762,896 shares of the semiconductor manufacturer's stock valued at $501,716,000 after buying an additional 2,132,847 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Skyworks Solutions by 8.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,507,074 shares of the semiconductor manufacturer's stock valued at $355,922,000 after buying an additional 408,577 shares during the period. Vulcan Value Partners LLC increased its holdings in Skyworks Solutions by 29.2% in the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock valued at $469,162,000 after buying an additional 1,194,782 shares during the period. Finally, Invesco Ltd. increased its holdings in Skyworks Solutions by 17.1% in the 4th quarter. Invesco Ltd. now owns 3,161,697 shares of the semiconductor manufacturer's stock valued at $280,379,000 after buying an additional 462,264 shares during the period. 85.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SWKS. Susquehanna raised their price target on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus raised their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group began 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 on the stock. UBS Group raised their price target on shares of Skyworks Solutions from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Mizuho raised their price target on shares of Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $72.87.

Skyworks Solutions Price Performance

SWKS traded up $2.53 during midday trading on Friday, hitting $71.08. The stock had a trading volume of 2,595,941 shares, compared to its average volume of 2,568,122. The company has a market cap of $10.55 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13. The business has a fifty day moving average of $72.71 and a 200 day moving average of $69.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.84 and a current ratio of 2.39. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $110.76.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.09. The company had revenue of $965.00 million during the quarter, compared to analyst estimates of $940.00 million. Skyworks Solutions had a return on equity of 11.77% and a net margin of 9.88%. The firm's revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. As a group, equities analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, August 26th. This is a positive change from Skyworks Solutions's previous quarterly dividend of $0.70. Skyworks Solutions's dividend payout ratio is 112.00%.

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.