Skandinaviska Enskilda Banken AB publ Purchases 7,300 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Skyworks Solutions by 4.2% in Q1, owning 182,643 shares worth $11.8 million.
• Multiple institutional investors have significantly increased their holdings in Skyworks Solutions, with Pzena Investment Management LLC raising their stake by 37.9% to a valuation of $501.7 million.
• Skyworks Solutions reported Q1 earnings of $1.24 per share, beating estimates, but experienced an 8.9% decline in quarterly revenue year-over-year.

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,643 shares of the semiconductor manufacturer's stock after purchasing an additional 7,300 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.12% of Skyworks Solutions worth $11,804,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Skyworks Solutions during the fourth quarter worth $228,646,000. Pzena Investment Management LLC grew its holdings in Skyworks Solutions by 37.9% during the first quarter. Pzena Investment Management LLC now owns 7,762,896 shares of the semiconductor manufacturer's stock worth $501,716,000 after buying an additional 2,132,847 shares in the last quarter. Marshall Wace LLP grew its holdings in Skyworks Solutions by 4,364.4% during the fourth quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer's stock worth $126,072,000 after buying an additional 1,389,803 shares in the last quarter. Vulcan Value Partners LLC grew its holdings in 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 buying an additional 1,194,782 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Skyworks Solutions by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 2,765,410 shares of the semiconductor manufacturer's stock worth $245,237,000 after buying an additional 497,575 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Stock Down 1.1%

Shares of SWKS stock traded down $0.79 during mid-day trading on Wednesday, hitting $71.15. The company's stock had a trading volume of 747,530 shares, compared to its average volume of 3,507,238. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week high of $114.16. The business has a 50-day moving average price of $72.90 and a 200 day moving average price of $70.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 4.95. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 1.79 and a beta of 1.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The company had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. During the same quarter in the previous year, the company posted $1.55 earnings per share. Skyworks Solutions's revenue was down 8.9% compared to the same quarter last year. Research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions's payout ratio is currently 109.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Stifel Nicolaus upped their price target on Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group started coverage on Skyworks Solutions in a research note on Thursday, July 10th. They issued a "sell" rating and a $70.00 price objective for the company. Barclays upped their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research note on Thursday, May 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $78.18.

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.