Royal Bank of Canada Decreases Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Royal Bank of Canada cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 426,153 shares of the semiconductor manufacturer's stock after selling 15,179 shares during the quarter. Royal Bank of Canada owned approximately 0.27% of Skyworks Solutions worth $37,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Skyworks Solutions during the 4th quarter worth approximately $228,646,000. Pzena Investment Management LLC grew its stake in Skyworks Solutions by 37.5% during the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock worth $499,273,000 after buying an additional 1,536,289 shares during the last quarter. Marshall Wace LLP raised its stake in Skyworks Solutions by 4,364.4% in the fourth quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer's stock valued at $126,072,000 after buying an additional 1,389,803 shares during the last quarter. Vulcan Value Partners LLC grew its stake in shares of Skyworks Solutions by 29.2% during the fourth quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock worth $469,162,000 after acquiring an additional 1,194,782 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Skyworks Solutions by 96.4% during the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock valued at $191,023,000 after acquiring an additional 949,407 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Price Performance

SWKS traded down $1.16 on Wednesday, reaching $70.23. 551,314 shares of the company's stock were exchanged, compared to its average volume of 2,927,452. Skyworks Solutions, Inc. has a twelve month low of $47.93 and a twelve month high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The stock has a market cap of $10.54 billion, a PE ratio of 21.54, a P/E/G ratio of 1.79 and a beta of 1.18. The stock's fifty day moving average price is $63.67 and its 200-day moving average price is $75.48.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $953.20 million for the quarter, compared to analyst estimates of $951.50 million. Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. Skyworks Solutions's revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 EPS. Sell-side analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a $0.70 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.99%. Skyworks Solutions's payout ratio is presently 109.80%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research report 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 report on Thursday, May 8th. Bank of America decreased their target price on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating for the company in a report on Thursday, February 6th. B. Riley lowered shares of Skyworks Solutions from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $110.00 to $65.00 in a research report on Thursday, February 6th. Finally, Mizuho lowered shares of Skyworks Solutions from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $105.00 to $62.00 in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of "Hold" and a consensus 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.