Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Skyworks Solutions by 2.4%, now holding approximately 1.52 million shares, valued at $98.16 million.
• Skyworks Solutions reported earnings of $1.24 per share, surpassing estimates, but revenue declined by 8.9% year-over-year to $953.2 million.
• The company announced a quarterly dividend of $0.70 per share, reflecting an annualized payout of $2.80 with a yield of 4.1%.

LSV Asset Management lessened its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,518,794 shares of the semiconductor manufacturer's stock after selling 37,038 shares during the quarter. LSV Asset Management owned 0.97% of Skyworks Solutions worth $98,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SWKS. Principal Financial Group Inc. raised its holdings in 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 purchasing an additional 16,965 shares during the period. Perigon Wealth Management LLC raised its holdings in 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 purchasing an additional 927 shares during the period. Teacher Retirement System of Texas acquired a new position in Skyworks Solutions in the 1st quarter worth about $1,511,000. Envestnet Asset Management Inc. raised its holdings 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 worth $30,690,000 after purchasing an additional 226,938 shares during the period. Finally, Amalgamated Bank raised its holdings in Skyworks Solutions by 1.5% in the 1st quarter. Amalgamated Bank now owns 31,496 shares of the semiconductor manufacturer's stock worth $2,036,000 after purchasing an additional 458 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

Skyworks Solutions Price Performance

SWKS stock opened at $67.69 on Friday. 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 business has a 50 day simple moving average of $72.83 and a 200-day simple moving average of $70.33. The firm has a market capitalization of $10.16 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. 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 posted its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The business's revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Equities research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a $0.70 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.1%. Skyworks Solutions's dividend payout ratio is 109.80%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SWKS. UBS Group upped their price target on Skyworks Solutions from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. JPMorgan Chase & Co. reduced their price target on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Barclays increased their target price on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Finally, Susquehanna increased their target price on Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $74.07.

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.

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