Victory Capital Management Inc. increased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 23.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 376,980 shares of the semiconductor manufacturer's stock after purchasing an additional 72,494 shares during the period. Victory Capital Management Inc. owned 0.24% of Skyworks Solutions worth $24,364,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in SWKS. Larson Financial Group LLC increased its position in Skyworks Solutions by 527.6% during the 1st quarter. Larson Financial Group LLC now owns 2,272 shares of the semiconductor manufacturer's stock worth $147,000 after purchasing an additional 1,910 shares during the period. PAX Financial Group LLC increased its position in Skyworks Solutions by 3.8% during the 1st quarter. PAX Financial Group LLC now owns 22,816 shares of the semiconductor manufacturer's stock worth $1,475,000 after purchasing an additional 837 shares during the period. Wealthfront Advisers LLC increased its position in Skyworks Solutions by 368.2% during the 1st quarter. Wealthfront Advisers LLC now owns 40,340 shares of the semiconductor manufacturer's stock worth $2,607,000 after purchasing an additional 31,724 shares during the period. Signaturefd LLC increased its position in Skyworks Solutions by 15.8% during the 1st quarter. Signaturefd LLC now owns 1,974 shares of the semiconductor manufacturer's stock worth $128,000 after purchasing an additional 269 shares during the period. Finally, CWM LLC increased its position in Skyworks Solutions by 390.4% during the 1st quarter. CWM LLC now owns 17,714 shares of the semiconductor manufacturer's stock worth $1,145,000 after purchasing an additional 14,102 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SWKS has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Skyworks Solutions in a report on Thursday, July 10th. They set a "sell" rating and a $70.00 target price on the stock. 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, Stifel Nicolaus raised their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Skyworks Solutions presently has an average rating of "Hold" and a consensus price target of $79.65.
View Our Latest Research Report on Skyworks Solutions
Skyworks Solutions Price Performance
Shares of NASDAQ:SWKS opened at $72.72 on Tuesday. Skyworks Solutions, Inc. has a 12 month low of $47.93 and a 12 month high of $120.07. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.82 and a beta of 1.17. The stock's 50 day moving average price is $72.97 and its 200 day moving average price is $71.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84.
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 for the quarter, topping the consensus estimate of $1.20 by $0.04. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. The firm had revenue of $953.20 million for the quarter, compared to analysts' expectations of $951.50 million. During the same period in the previous year, the company posted $1.55 EPS. The company's quarterly revenue was down 8.9% compared to the same quarter last year. Equities research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.
Skyworks Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions's payout ratio is presently 109.80%.
Skyworks Solutions Profile
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Free Report)
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.
Further Reading
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