Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Sold by Vulcan Value Partners LLC

Key Points

• Vulcan Value Partners LLC significantly reduced its stake in Skyworks Solutions by 66.3%, now holding approximately 1.78 million shares, making Skyworks 16th in their investment portfolio.
• Skyworks reported an EPS of $1.24 for the last quarter, exceeding estimates but showing an 8.9% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.70 per share, yielding 4.1%, but has a high dividend payout ratio of 109.8%.

Vulcan Value Partners LLC cut its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 66.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,781,258 shares of the semiconductor manufacturer's stock after selling 3,509,555 shares during the quarter. Skyworks Solutions accounts for 2.2% of Vulcan Value Partners LLC's investment portfolio, making the stock its 16th largest position. Vulcan Value Partners LLC owned approximately 1.14% of Skyworks Solutions worth $115,121,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SWKS. Mattson Financial Services LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB grew its holdings in Skyworks Solutions by 60.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 223 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Skyworks Solutions by 53.2% in the 4th quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer's stock valued at $56,000 after purchasing an additional 218 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Skyworks Solutions in the 4th quarter valued at $66,000. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Skyworks Solutions by 450.7% during the 1st quarter. Brown Lisle Cummings Inc. now owns 771 shares of the semiconductor manufacturer's stock worth $50,000 after purchasing an additional 631 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Trading Down 3.9%

NASDAQ SWKS opened at $68.54 on Friday. The firm's fifty day moving average is $72.87 and its two-hundred day moving average is $70.64. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $114.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.84 and a current ratio of 4.95. The firm has a market cap of $10.29 billion, a PE ratio of 26.88, a P/E/G ratio of 1.79 and a beta of 1.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $953.20 million for 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% on a year-over-year basis. During the same quarter last year, the company posted $1.55 earnings per share. Analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

SWKS has been the subject of a number of analyst reports. Barclays boosted their target price on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research note on Thursday, May 8th. Stifel Nicolaus upped their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Skyworks Solutions in a report on Thursday, July 10th. They issued a "sell" rating and a $70.00 price objective on the stock. JPMorgan Chase & Co. cut their target price 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $74.07.

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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