Royal Bank of Canada lessened its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 49.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,619 shares of the semiconductor manufacturer’s stock after selling 111,005 shares during the quarter. Royal Bank of Canada owned 0.07% of Skyworks Solutions worth $10,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of Skyworks Solutions by 39.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,110,017 shares of the semiconductor manufacturer’s stock worth $255,060,000 after acquiring an additional 595,282 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Skyworks Solutions in the fourth quarter worth approximately $130,000. Martingale Asset Management L P acquired a new stake in Skyworks Solutions in the fourth quarter worth approximately $1,156,000. Assetmark Inc. lifted its position in Skyworks Solutions by 1,254.2% in the fourth quarter. Assetmark Inc. now owns 2,424 shares of the semiconductor manufacturer’s stock worth $293,000 after purchasing an additional 2,245 shares during the period. Finally, Korea Investment CORP lifted its position in Skyworks Solutions by 56.8% in the fourth quarter. Korea Investment CORP now owns 178,814 shares of the semiconductor manufacturer’s stock worth $21,615,000 after purchasing an additional 64,800 shares during the period. Institutional investors own 78.96% of the company’s stock.

NASDAQ SWKS opened at $126.00 on Tuesday. Skyworks Solutions Inc has a 1-year low of $67.90 and a 1-year high of $138.22. The company has a current ratio of 6.13, a quick ratio of 4.34 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $21.00 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.13 and a beta of 1.25. The firm’s fifty day simple moving average is $121.92 and its 200-day simple moving average is $109.65.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Monday, May 4th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.01. Skyworks Solutions had a net margin of 24.35% and a return on equity of 21.89%. The business had revenue of $766.10 million for the quarter, compared to the consensus estimate of $765.10 million. During the same period in the prior year, the business posted $1.47 earnings per share. Skyworks Solutions’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts predict that Skyworks Solutions Inc will post 4.72 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 30.82%.

A number of equities research analysts have weighed in on the company. Robert W. Baird cut their target price on Skyworks Solutions from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Raymond James cut their target price on Skyworks Solutions from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Craig Hallum upped their target price on Skyworks Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. increased their price objective on Skyworks Solutions from $104.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $115.00 price objective (up previously from $112.00) on shares of Skyworks Solutions in a research report on Monday, May 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $123.13.

In other news, CEO Liam Griffin sold 12,500 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $126.36, for a total value of $1,579,500.00. Following the transaction, the chief executive officer now directly owns 64,244 shares of the company’s stock, valued at $8,117,871.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director P Mcglade David sold 21,800 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $134.14, for a total transaction of $2,924,252.00. The disclosure for this sale can be found here. Insiders sold 41,300 shares of company stock worth $5,305,752 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

See Also: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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