Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC reduced its holdings in Skyworks Solutions, Inc. by 58.4% during the 1st quarter, selling 8,620 shares and retaining 6,147 shares valued at $397,000.
• Pzena Investment Management LLC significantly boosted its stake in Skyworks Solutions by 37.9%, owning 7,762,896 shares worth approximately $501.7 million after acquiring an additional 2,132,847 shares.
• Skyworks Solutions recently announced a quarterly dividend increase to $0.71 per share, reflecting a dividend yield of 4.0% and a payout ratio of 112.00%.

Frank Rimerman Advisors LLC lessened its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 58.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,147 shares of the semiconductor manufacturer's stock after selling 8,620 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Skyworks Solutions were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SWKS. Pzena Investment Management LLC boosted its stake in Skyworks Solutions by 37.9% during the 1st quarter. Pzena Investment Management LLC now owns 7,762,896 shares of the semiconductor manufacturer's stock worth $501,716,000 after purchasing an additional 2,132,847 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Skyworks Solutions by 4,364.4% during the 4th quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer's stock valued at $126,072,000 after acquiring an additional 1,389,803 shares during the last quarter. Vulcan Value Partners LLC boosted its position in shares of Skyworks Solutions by 29.2% during the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock valued at $469,162,000 after acquiring an additional 1,194,782 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Skyworks Solutions by 1,844.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 447,727 shares of the semiconductor manufacturer's stock valued at $28,937,000 after acquiring an additional 424,698 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Skyworks Solutions by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,507,074 shares of the semiconductor manufacturer's stock valued at $355,922,000 after acquiring an additional 408,577 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company's stock.

Skyworks Solutions Stock Up 3.7%

Shares of NASDAQ:SWKS opened at $71.08 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 1.80. The firm has a market capitalization of $10.55 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The firm's 50-day moving average is $72.71 and its two-hundred day moving average is $69.32. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $110.76.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.09. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $940.00 million. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. Analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.71 per share. The ex-dividend date is Tuesday, August 26th. This is a positive change from Skyworks Solutions's previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.0%. Skyworks Solutions's payout ratio is currently 112.00%.

Analyst Ratings Changes

SWKS has been the topic of several recent research reports. Barclays boosted their price target on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. Stifel Nicolaus boosted their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Susquehanna boosted their price target on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Skyworks Solutions from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Mizuho boosted 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. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $72.87.

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.

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