National Bank of Canada FI Purchases 35,488 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• National Bank of Canada FI increased its stake in Skyworks Solutions, Inc. by 41.4% in the first quarter, acquiring an additional 35,488 shares, bringing its total ownership to 121,275 shares valued at approximately $7.84 million.
• Analysts have set a consensus price target of $72.87 for Skyworks Solutions, with mixed ratings; four analysts recommend a sell, while thirteen suggest holding the stock.
• Skyworks Solutions declared a quarterly dividend of $0.71 per share, reflecting an increase from the previous dividend, with a yield of 4.0% and a payout ratio of 112%.

National Bank of Canada FI lifted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 41.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,275 shares of the semiconductor manufacturer's stock after purchasing an additional 35,488 shares during the period. National Bank of Canada FI owned approximately 0.08% of Skyworks Solutions worth $7,838,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SWKS. 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 lifted its holdings in Skyworks Solutions by 60.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 223 shares during the period. Brown Lisle Cummings Inc. lifted its holdings 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 buying an additional 631 shares during the period. Costello Asset Management INC lifted its holdings 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 buying an additional 300 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Skyworks Solutions in the first quarter valued at approximately $52,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on SWKS. JPMorgan Chase & Co. cut their price objective on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Cfra Research upgraded shares of Skyworks Solutions to a "moderate sell" rating in a report on Wednesday, August 6th. Barclays increased their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Stifel Nicolaus increased their target price on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Mizuho increased their target price 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 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 company's stock. Based on data from MarketBeat, Skyworks Solutions has an average rating of "Hold" and a consensus target price of $72.87.

Skyworks Solutions Stock Down 1.1%

Shares of NASDAQ SWKS traded down $0.84 during mid-day trading on Friday, hitting $74.52. The company had a trading volume of 2,364,213 shares, compared to its average volume of 3,487,180. The company has a market capitalization of $11.06 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.65 and a beta of 1.13. The firm has a 50-day simple moving average of $72.90 and a two-hundred day simple moving average of $69.12. The company has a current ratio of 2.39, a quick ratio of 1.80 and a debt-to-equity ratio of 0.09. 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 data on Tuesday, August 5th. The semiconductor manufacturer reported $1.33 earnings per share for the quarter, beating 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 company had revenue of $965.00 million during the quarter, compared to analysts' expectations of $940.00 million. During the same quarter last year, the company earned $1.21 EPS. Skyworks Solutions's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current 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 $0.71 dividend. This is a boost from Skyworks Solutions's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.8%. Skyworks Solutions's payout ratio is 112.00%.

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.