Bank of New York Mellon Corp Has $101.10 Million Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Bank of New York Mellon Corp trimmed its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,564,285 shares of the semiconductor manufacturer's stock after selling 150,896 shares during the period. Bank of New York Mellon Corp owned about 1.00% of Skyworks Solutions worth $101,100,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Skyworks Solutions during the 4th quarter worth approximately $29,000. Picton Mahoney Asset Management acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at $33,000. Mattson Financial Services LLC acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at $37,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Skyworks Solutions by 60.1% in the 1st 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 in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Skyworks Solutions by 450.7% in the 1st 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 during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Stifel Nicolaus raised their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. UBS Group decreased their target price on shares of Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Mizuho lifted their price target on shares of Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $79.06.

Skyworks Solutions Stock Down 2.9%

Shares of Skyworks Solutions stock traded down $2.28 on Friday, hitting $75.42. The company had a trading volume of 2,065,833 shares, compared to its average volume of 3,035,452. The firm has a market capitalization of $11.32 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.95 and a beta of 1.17. 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 0.17, a current ratio of 4.95 and a quick ratio of 3.84. The stock has a 50-day moving average of $72.36 and a 200-day moving average of $72.38.

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 the consensus estimate of $1.20 by $0.04. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. The business had revenue of $953.20 million during the quarter, compared to analysts' expectations of $951.50 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. The firm's revenue was down 8.9% on a year-over-year basis. Research analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.71%. The ex-dividend date was Tuesday, May 27th. Skyworks Solutions's payout ratio is 109.80%.

Skyworks Solutions 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.