Letko Brosseau & Associates Inc. Sells 12,200 Shares of Skyworks Solutions Inc (NASDAQ:SWKS)

Letko Brosseau & Associates Inc. cut its holdings in Skyworks Solutions Inc (NASDAQ:SWKS) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 371,799 shares of the semiconductor manufacturer’s stock after selling 12,200 shares during the period. Letko Brosseau & Associates Inc. owned about 0.22% of Skyworks Solutions worth $28,729,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Cribstone Capital Management LLC purchased a new position in shares of Skyworks Solutions during the 2nd quarter worth about $37,000. Accurate Investment Solutions Inc. boosted its stake in shares of Skyworks Solutions by 42.5% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 580 shares of the semiconductor manufacturer’s stock worth $45,000 after purchasing an additional 173 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Skyworks Solutions by 34.6% during the 1st quarter. Valeo Financial Advisors LLC now owns 584 shares of the semiconductor manufacturer’s stock worth $48,000 after purchasing an additional 150 shares during the period. Harvest Group Wealth Management LLC purchased a new position in shares of Skyworks Solutions during the 1st quarter worth about $51,000. Finally, AlphaOne Investment Services LLC purchased a new position in shares of Skyworks Solutions during the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 81.08% of the company’s stock.

Shares of SWKS traded down $0.03 during mid-day trading on Thursday, hitting $75.96. The company’s stock had a trading volume of 77,045 shares, compared to its average volume of 2,300,193. The company has a 50-day moving average price of $80.72. Skyworks Solutions Inc has a 52-week low of $60.12 and a 52-week high of $94.39. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.63 and a beta of 1.02.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.14. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The firm had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $767.71 million. During the same quarter in the prior year, the company earned $1.64 EPS. The company’s revenue was down 14.2% compared to the same quarter last year. On average, equities research analysts predict that Skyworks Solutions Inc will post 5.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Monday, August 26th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.38. Skyworks Solutions’s dividend payout ratio is presently 22.93%.

A number of equities analysts recently commented on the stock. Macquarie cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $92.80 price target for the company. in a research note on Wednesday, April 17th. Mizuho dropped their price target on shares of Skyworks Solutions from $89.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Canaccord Genuity dropped their price target on shares of Skyworks Solutions from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. DA Davidson dropped their price target on shares of Skyworks Solutions to $95.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Barclays cut shares of Skyworks Solutions from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $86.40.

In related news, Director David J. Aldrich sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $75.50, for a total transaction of $377,500.00. Following the completion of the transaction, the director now owns 208,032 shares in the company, valued at approximately $15,706,416. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter L. Gammel sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $73.36, for a total transaction of $165,060.00. Following the transaction, the insider now owns 11,490 shares of the company’s stock, valued at approximately $842,906.40. The disclosure for this sale can be found here. Insiders sold a total of 49,750 shares of company stock valued at $3,984,835 in the last ninety days. Corporate insiders own 0.64% of the company’s stock.

About Skyworks Solutions

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.

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

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