Quantbot Technologies LP Buys 121,299 Shares of Skyworks Solutions, Inc. $SWKS

Key Points

• Quantbot Technologies LP boosted its stake in Skyworks Solutions, Inc. by 166.1%, acquiring 121,299 shares, which brought its total ownership to 194,318 shares valued at approximately $12.56 million.
• Skyworks Solutions reported earnings of $1.33 per share for the last quarter, exceeding estimates, and its revenue increased by 6.6% year-over-year to $965 million.
• The company recently announced a dividend increase to $0.71 per share, reflecting a 3.8% yield, with a dividend payout ratio of 112%.

Quantbot Technologies LP increased its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 166.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,318 shares of the semiconductor manufacturer's stock after purchasing an additional 121,299 shares during the quarter. Quantbot Technologies LP owned about 0.13% of Skyworks Solutions worth $12,559,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mattson Financial Services LLC acquired a new position in Skyworks Solutions in the fourth quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Skyworks Solutions by 60.1% during the first 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 purchasing an additional 631 shares in the last quarter. Costello Asset Management INC grew its position in Skyworks Solutions by 61.1% in the first quarter. Costello Asset Management INC now owns 791 shares of the semiconductor manufacturer's stock valued at $51,000 after purchasing an additional 300 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Skyworks Solutions during the first quarter worth $52,000. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Price Performance

Shares of NASDAQ:SWKS opened at $74.52 on Monday. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 1.80. The firm has a 50 day simple moving average of $72.96 and a 200 day simple moving average of $68.73. Skyworks Solutions, Inc. has a one year low of $47.93 and a one 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.09. The firm had revenue of $965.00 million during the quarter, compared to analysts' expectations of $940.00 million. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The company's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 EPS. Research analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.8%. This is a boost 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 currently 112.00%.

Wall Street Analyst Weigh In

SWKS has been the subject of a number of analyst reports. UBS Group lifted 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. JPMorgan Chase & Co. cut their price objective on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Barclays upped their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Citigroup raised their target price on shares of Skyworks Solutions from $63.00 to $66.00 and gave the company a "sell" rating in a report on Wednesday, August 6th. Finally, Mizuho upped their price target on shares of Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.

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