Oak Thistle LLC Raises Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Oak Thistle LLC grew its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 263.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 27,185 shares of the semiconductor manufacturer's stock after acquiring an additional 19,702 shares during the period. Oak Thistle LLC's holdings in Skyworks Solutions were worth $1,757,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SWKS. Principal Financial Group Inc. grew its stake in shares of Skyworks Solutions by 9.1% in the 1st quarter. Principal Financial Group Inc. now owns 203,496 shares of the semiconductor manufacturer's stock worth $13,152,000 after buying an additional 16,965 shares during the last quarter. Perigon Wealth Management LLC grew its stake in shares of Skyworks Solutions by 30.6% in the 1st quarter. Perigon Wealth Management LLC now owns 3,953 shares of the semiconductor manufacturer's stock worth $255,000 after buying an additional 927 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Skyworks Solutions in the 1st quarter worth approximately $1,511,000. Envestnet Asset Management Inc. lifted its position in Skyworks Solutions by 91.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 474,852 shares of the semiconductor manufacturer's stock valued at $30,690,000 after acquiring an additional 226,938 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Skyworks Solutions by 1.5% in the 1st quarter. Amalgamated Bank now owns 31,496 shares of the semiconductor manufacturer's stock valued at $2,036,000 after acquiring an additional 458 shares in the last quarter. 85.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SWKS has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Mizuho upped their price objective on Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group initiated coverage on Skyworks Solutions in a research report on Thursday, July 10th. They issued a "sell" rating and a $70.00 price objective on the stock. Barclays upped their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a research report on Thursday, May 8th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $78.18.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $0.81 during trading on Friday, reaching $71.53. The company had a trading volume of 1,539,210 shares, compared to its average volume of 2,083,698. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $120.07. The firm's 50-day simple moving average is $72.96 and its 200 day simple moving average is $71.21. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.17. The company has a current ratio of 4.95, a quick ratio of 3.84 and a debt-to-equity ratio of 0.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $951.50 million. During the same period last year, the firm earned $1.55 EPS. Skyworks Solutions's revenue for the quarter was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a $0.70 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.91%. Skyworks Solutions's dividend payout ratio is currently 109.80%.

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.