Zurcher Kantonalbank Zurich Cantonalbank Has $12.49 Million Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Zurcher Kantonalbank increased its holdings in Skyworks Solutions by 124.1%, acquiring an additional 107,006 shares, bringing its total to 193,265 shares, valued at approximately $12.49 million.
• Several hedge funds have adjusted their positions in Skyworks Solutions, with notable changes including a 60.1% increase by MassMutual Private Wealth & Trust FSB and a 450.7% boost by Brown Lisle Cummings Inc.
• Skyworks Solutions recently reported quarterly earnings of $1.24 EPS, surpassing analyst expectations, but its revenue fell 8.9% year-over-year, highlighting potential challenges despite positive earnings outperformance.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 124.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 193,265 shares of the semiconductor manufacturer's stock after buying an additional 107,006 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.12% of Skyworks Solutions worth $12,491,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Mattson Financial Services LLC purchased a new position in Skyworks Solutions during the 4th quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Skyworks Solutions by 60.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 223 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings 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 valued at $50,000 after acquiring an additional 631 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Skyworks Solutions during the 1st quarter valued at $52,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Skyworks Solutions by 53.2% during the 4th quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer's stock valued at $56,000 after acquiring an additional 218 shares in the last quarter. Institutional investors own 85.43% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SWKS. Mizuho boosted their price target on shares of Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Susquehanna boosted their price target on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Stifel Nicolaus boosted their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on shares of Skyworks Solutions in a report on Thursday, July 10th. They set a "sell" rating and a $70.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Four 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's stock. Based on data from MarketBeat, Skyworks Solutions presently has an average rating of "Hold" and an average price target of $74.07.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $0.85 on Friday, reaching $67.69. 2,676,285 shares of the stock were exchanged, compared to its average volume of 2,025,519. The stock has a market cap of $10.16 billion, a PE ratio of 26.55, a PEG ratio of 1.72 and a beta of 1.14. The company has a current ratio of 4.95, a quick ratio of 3.84 and a debt-to-equity ratio of 0.17. Skyworks Solutions, Inc. has a twelve month low of $47.93 and a twelve month high of $110.76. The firm has a fifty day moving average price of $72.83 and a two-hundred day moving average price of $70.48.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. The business's revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.70 per share. The ex-dividend date of this dividend 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 currently 109.80%.

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.