TD Asset Management Inc Purchases 11,038 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• TD Asset Management Inc increased its stake in Skyworks Solutions by 12.0%, acquiring an additional 11,038 shares, bringing its total ownership to 103,404 shares valued at approximately $6.68 million.
• Skyworks Solutions recently reported $1.24 earnings per share (EPS) for the quarter, exceeding analysts' expectations, despite a 8.9% year-over-year revenue decline to $953.20 million.
• The company announced a quarterly dividend of $0.70 per share, translating to an annualized basis of $2.80 and a dividend yield of 4.1%, although its payout ratio is currently at 109.80%.

TD Asset Management Inc raised its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,404 shares of the semiconductor manufacturer's stock after buying an additional 11,038 shares during the quarter. TD Asset Management Inc owned about 0.07% of Skyworks Solutions worth $6,683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Skyworks Solutions by 4.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 182,643 shares of the semiconductor manufacturer's stock valued at $11,804,000 after buying an additional 7,300 shares during the period. Oak Thistle LLC raised its stake in shares of Skyworks Solutions by 263.3% during the 1st quarter. Oak Thistle LLC now owns 27,185 shares of the semiconductor manufacturer's stock valued at $1,757,000 after purchasing an additional 19,702 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Skyworks Solutions during the 1st quarter valued at $553,000. Guidance Capital Inc. raised its stake in shares of Skyworks Solutions by 31.7% during the 1st quarter. Guidance Capital Inc. now owns 13,409 shares of the semiconductor manufacturer's stock valued at $886,000 after purchasing an additional 3,224 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Skyworks Solutions by 459.7% during the 1st quarter. Lindbrook Capital LLC now owns 2,989 shares of the semiconductor manufacturer's stock valued at $193,000 after purchasing an additional 2,455 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Price Performance

SWKS opened at $68.54 on Friday. The stock has a 50-day moving average price of $72.87 and a 200-day moving average price of $70.64. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $114.16. The company has a current ratio of 4.95, a quick ratio of 3.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $10.29 billion, a P/E ratio of 26.88, a PEG ratio of 1.79 and a beta of 1.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings data 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. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The firm had revenue of $953.20 million during the quarter, compared to analysts' expectations of $951.50 million. During the same period in the prior year, the business earned $1.55 EPS. The company's revenue for the quarter was down 8.9% compared to the same quarter last year. Equities analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on SWKS shares. The Goldman Sachs Group started coverage on Skyworks Solutions in a research note on Thursday, July 10th. They set a "sell" rating and a $70.00 price objective on the stock. Susquehanna boosted their price objective on Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Mizuho boosted their price objective on Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Barclays boosted their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $74.07.

Skyworks Solutions Company 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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