LPL Financial LLC Cuts Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• LPL Financial LLC reduced its stake in Skyworks Solutions by 17.8%, resulting in ownership of 99,895 shares worth approximately $6.46 million.
• Skyworks Solutions reported a 6.6% year-over-year revenue increase with $965 million for the most recent quarter, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.71, indicating a positive change from the previous dividend of $0.70, with a yield of 4.0%.

LPL Financial LLC lowered its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 17.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 99,895 shares of the semiconductor manufacturer's stock after selling 21,588 shares during the quarter. LPL Financial LLC owned 0.06% of Skyworks Solutions worth $6,456,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SWKS. Federated Hermes Inc. lifted its stake in Skyworks Solutions by 238.6% in the fourth quarter. Federated Hermes Inc. now owns 3,454 shares of the semiconductor manufacturer's stock valued at $306,000 after buying an additional 2,434 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Skyworks Solutions by 9.8% in the fourth quarter. Cerity Partners LLC now owns 28,338 shares of the semiconductor manufacturer's stock worth $2,579,000 after purchasing an additional 2,521 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Skyworks Solutions by 4.0% in the fourth quarter. Bank of Nova Scotia now owns 21,313 shares of the semiconductor manufacturer's stock worth $1,890,000 after purchasing an additional 827 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Skyworks Solutions in the fourth quarter worth $7,947,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Skyworks Solutions in the fourth quarter worth $3,740,000. Institutional investors and hedge funds own 85.43% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SWKS shares. Stifel Nicolaus upped their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Skyworks Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Citigroup upped their price target on shares of Skyworks Solutions from $63.00 to $66.00 and gave the company a "sell" rating in a research note on Wednesday, August 6th. Cfra Research upgraded shares of Skyworks Solutions to a "moderate sell" rating in a research note on Wednesday, August 6th. Finally, Mizuho increased their price objective on shares of Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $72.87.

Skyworks Solutions Trading Down 1.6%

NASDAQ SWKS traded down $1.23 during trading hours on Friday, reaching $74.13. The company's stock had a trading volume of 741,381 shares, compared to its average volume of 3,476,667. The firm has a fifty day simple moving average of $72.90 and a 200-day simple moving average of $69.12. The stock has a market cap of $11.00 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.65 and a beta of 1.13. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $110.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 1.80.

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

Skyworks Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $0.71 per share. This is a boost from Skyworks Solutions's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, August 26th. This represents a $2.84 dividend on an annualized basis and a yield of 3.8%. Skyworks Solutions's dividend payout ratio (DPR) is presently 112.00%.

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.