Letko Brosseau & Associates Inc. Has $47.25 Million Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Letko Brosseau & Associates Inc. reduced its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 731,087 shares of the semiconductor manufacturer’s stock after selling 21,588 shares during the quarter. Letko Brosseau & Associates Inc. owned about 0.47% of Skyworks Solutions worth $47,250,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new position in shares of Skyworks Solutions during the fourth quarter worth approximately $37,000. MassMutual Private Wealth & Trust FSB grew its position in Skyworks Solutions by 60.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 223 shares during the period. Brown Lisle Cummings Inc. increased its stake in 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 purchasing an additional 631 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Skyworks Solutions during the first quarter worth $52,000. Finally, Quadrant Capital Group LLC raised its holdings in Skyworks Solutions by 53.2% during the fourth quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer’s stock worth $56,000 after buying an additional 218 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Trading Up 0.9%

Shares of Skyworks Solutions stock opened at $71.94 on Wednesday. The firm has a market cap of $10.80 billion, a PE ratio of 28.21, a P/E/G ratio of 1.79 and a beta of 1.17. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $120.07. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84. The stock has a fifty day moving average price of $72.90 and a 200-day moving average price of $70.79.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating 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 company had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. During the same quarter in the prior year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently announced 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions’s dividend payout ratio is currently 109.80%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SWKS shares. JPMorgan Chase & Co. reduced their price objective on shares of Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Barclays raised their price target on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, May 8th. Susquehanna boosted their price objective on Skyworks Solutions from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Mizuho raised their target price on Skyworks Solutions from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. Finally, The Goldman Sachs Group initiated coverage on Skyworks Solutions in a research report on Thursday, July 10th. They set a “sell” rating and a $70.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $78.18.

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.