Letko Brosseau & Associates Inc. Increases Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Letko Brosseau & Associates Inc. raised its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 752,675 shares of the semiconductor manufacturer's stock after acquiring an additional 61,615 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 0.47% of Skyworks Solutions worth $66,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SWKS. Resonant Capital Advisors LLC lifted its stake in Skyworks Solutions by 5.0% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,010 shares of the semiconductor manufacturer's stock worth $267,000 after purchasing an additional 143 shares during the period. Savant Capital LLC lifted its position in shares of Skyworks Solutions by 5.0% during the 4th quarter. Savant Capital LLC now owns 3,052 shares of the semiconductor manufacturer's stock worth $271,000 after buying an additional 144 shares during the period. Legacy Financial Advisors Inc. boosted its stake in Skyworks Solutions by 2.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 6,383 shares of the semiconductor manufacturer's stock valued at $566,000 after buying an additional 156 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in Skyworks Solutions by 7.5% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,355 shares of the semiconductor manufacturer's stock worth $209,000 after acquiring an additional 165 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Skyworks Solutions by 7.5% in the 4th quarter. Principal Securities Inc. now owns 2,404 shares of the semiconductor manufacturer's stock valued at $213,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Skyworks Solutions Price Performance

SWKS traded up $0.04 during trading on Thursday, reaching $72.28. 2,942,370 shares of the company were exchanged, compared to its average volume of 2,907,431. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $120.86. The company's 50-day moving average is $63.29 and its two-hundred day moving average is $76.78. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. The firm had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. During the same period in the previous year, the business earned $1.55 EPS. The business's revenue for the quarter was down 8.9% on a year-over-year basis. Research analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, May 27th. Skyworks Solutions's dividend payout ratio is currently 109.80%.

Insider Transactions at Skyworks Solutions

In other news, CEO Philip G. Brace purchased 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company's stock, valued at $661,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on SWKS. Rosenblatt Securities restated a "neutral" rating and set a $80.00 target price (down previously from $120.00) on shares of Skyworks Solutions in a report on Thursday, February 6th. Argus cut shares of Skyworks Solutions from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America reduced their target price on shares of Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating on the stock in a research report on Thursday, February 6th. B. Riley lowered shares of Skyworks Solutions from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $65.00 in a report on Thursday, February 6th. Finally, Barclays boosted their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Skyworks Solutions presently has an average rating of "Hold" and an average price target of $78.29.

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.