PNC Financial Services Group Inc. Has $5.17 Million Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

PNC Financial Services Group Inc. trimmed its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,914 shares of the semiconductor manufacturer's stock after selling 5,525 shares during the quarter. PNC Financial Services Group Inc. owned 0.05% of Skyworks Solutions worth $5,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mattson Financial Services LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at about $37,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 worth $38,000 after acquiring an additional 223 shares during the period. Brown Lisle Cummings Inc. grew its position in Skyworks Solutions by 450.7% in the first quarter. Brown Lisle Cummings Inc. now owns 771 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 631 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Skyworks Solutions during the first quarter valued at approximately $52,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Skyworks Solutions by 53.2% during the fourth quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer's stock worth $56,000 after purchasing an additional 218 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Stock Up 3.7%

NASDAQ SWKS traded up $2.53 during trading on Friday, reaching $71.08. 2,595,941 shares of the company's stock were exchanged, compared to its average volume of 3,523,724. The firm has a market capitalization of $10.67 billion, a PE ratio of 28.43, a P/E/G ratio of 1.69 and a beta of 1.13. Skyworks Solutions, Inc. has a fifty-two week low of $47.93 and a fifty-two week high of $110.76. The company has a current ratio of 2.39, a quick ratio of 3.84 and a debt-to-equity ratio of 0.09. The company's fifty day simple moving average is $72.66 and its 200-day simple moving average is $69.79.

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

Skyworks Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.0%. This is an increase from Skyworks Solutions's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, August 26th. Skyworks Solutions's dividend payout ratio is 113.60%.

Analysts Set New Price Targets

SWKS has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Mizuho upped their target price 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. Barclays lifted their price target on Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Susquehanna lifted their target price 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 equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of "Hold" and a consensus target price of $72.87.

About Skyworks Solutions

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.