Pallas Capital Advisors LLC Purchases New Shares in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Pallas Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,148 shares of the semiconductor manufacturer's stock, valued at approximately $397,000.

A number of other institutional investors and hedge funds have also modified their holdings of SWKS. Golden State Wealth Management LLC bought a new stake in Skyworks Solutions in the fourth quarter valued at $28,000. Stephens Inc. AR grew its position in Skyworks Solutions by 9.5% in the fourth quarter. Stephens Inc. AR now owns 4,284 shares of the semiconductor manufacturer's stock valued at $380,000 after acquiring an additional 372 shares during the period. Savant Capital LLC grew its position in Skyworks Solutions by 5.0% in the fourth quarter. Savant Capital LLC now owns 3,052 shares of the semiconductor manufacturer's stock valued at $271,000 after acquiring an additional 144 shares during the period. Allspring Global Investments Holdings LLC grew its position in Skyworks Solutions by 126.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 102,289 shares of the semiconductor manufacturer's stock valued at $9,047,000 after acquiring an additional 57,146 shares during the period. Finally, Naples Global Advisors LLC grew its position in Skyworks Solutions by 1.1% in the fourth quarter. Naples Global Advisors LLC now owns 21,159 shares of the semiconductor manufacturer's stock valued at $1,876,000 after acquiring an additional 232 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Up 1.0%

Shares of NASDAQ SWKS traded up $0.73 during mid-day trading on Monday, reaching $71.98. 2,601,326 shares of the company's stock were exchanged, compared to its average volume of 3,021,048. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.79 and a beta of 1.16. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $66.46 and a 200 day simple moving average of $74.01. Skyworks Solutions, Inc. has a twelve month low of $47.93 and a twelve month high of $120.86.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. The business had revenue of $953.20 million for the quarter, compared to analyst estimates of $951.50 million. During the same quarter last year, the firm earned $1.55 EPS. Skyworks Solutions's revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, equities analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Skyworks Solutions's dividend payout ratio (DPR) is 109.80%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Barclays increased their target price on Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. UBS Group decreased their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Stifel Nicolaus increased their target price on Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $78.29.

Skyworks Solutions Company 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.