Parallel Advisors LLC boosted its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,917 shares of the semiconductor manufacturer’s stock after acquiring an additional 202 shares during the period. Parallel Advisors LLC’s holdings in Skyworks Solutions were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in SWKS. True Wealth Design LLC acquired a new stake in Skyworks Solutions in the 4th quarter valued at about $26,000. Sound Income Strategies LLC boosted its stake in shares of Skyworks Solutions by 341.2% during the 1st quarter. Sound Income Strategies LLC now owns 225 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 174 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions during the 4th quarter worth about $27,000. J.Safra Asset Management Corp boosted its stake in shares of Skyworks Solutions by 1,100.0% during the 4th quarter. J.Safra Asset Management Corp now owns 420 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 385 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Skyworks Solutions by 111.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 322 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 170 shares during the last quarter. 78.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on SWKS shares. Bank of America decreased their price target on shares of Skyworks Solutions from $108.00 to $100.00 in a research note on Tuesday, May 9th. Susquehanna cut their price objective on shares of Skyworks Solutions from $130.00 to $125.00 in a report on Tuesday, May 9th. Piper Sandler cut their price objective on shares of Skyworks Solutions from $120.00 to $107.00 in a report on Tuesday, May 9th. Argus cut their price objective on shares of Skyworks Solutions from $160.00 to $140.00 in a report on Wednesday, May 10th. Finally, BMO Capital Markets lowered shares of Skyworks Solutions from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $140.00 to $100.00 in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.32.
Skyworks Solutions Stock Down 2.2 %
Skyworks Solutions (NASDAQ:SWKS – Get Free Report) last released its quarterly earnings results on Monday, May 8th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.01). Skyworks Solutions had a return on equity of 26.38% and a net margin of 21.70%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $2.29 EPS. The firm’s quarterly revenue was down 13.7% compared to the same quarter last year. On average, equities research analysts predict that Skyworks Solutions, Inc. will post 7.36 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 20th. Shareholders of record on Tuesday, May 30th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, May 26th. Skyworks Solutions’s dividend payout ratio is presently 35.79%.
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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
Further Reading
- Five stocks we like better than Skyworks Solutions
- MarketBeat Week in Review – 7/10 – 7/14
- Wells Fargo’s Earnings, Why Markets Are Loving The Stock
- Citigroup Leads Banking Earnings, What’s Next?
- BlackRock Kicks Off Financials Earnings Season, Gauge To Markets
- JPMorgan Chase Is In Reversal But Don’t Chase It Higher
Want to see what other hedge funds are holding SWKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Skyworks Solutions, Inc. (NASDAQ:SWKS – Free Report).
Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
