Letko Brosseau & Associates Inc. Decreases Holdings in Skyworks Solutions Inc (NASDAQ:SWKS)

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Letko Brosseau & Associates Inc. trimmed its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 3.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 371,799 shares of the semiconductor manufacturer’s stock after selling 12,200 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Skyworks Solutions were worth $28,729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Skyworks Solutions by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,324,925 shares of the semiconductor manufacturer’s stock valued at $88,805,000 after purchasing an additional 229,482 shares during the last quarter. Geode Capital Management LLC lifted its stake in Skyworks Solutions by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 2,693,315 shares of the semiconductor manufacturer’s stock valued at $180,234,000 after purchasing an additional 242,983 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Skyworks Solutions by 34.6% in the first quarter. Valeo Financial Advisors LLC now owns 584 shares of the semiconductor manufacturer’s stock valued at $48,000 after purchasing an additional 150 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Skyworks Solutions in the first quarter valued at approximately $942,000. Finally, Meeder Asset Management Inc. lifted its stake in Skyworks Solutions by 593.7% in the first quarter. Meeder Asset Management Inc. now owns 2,088 shares of the semiconductor manufacturer’s stock valued at $172,000 after purchasing an additional 1,787 shares during the last quarter. 81.08% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on SWKS shares. BidaskClub cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Cowen reissued a “market perform” rating and set a $80.00 target price (down previously from $95.00) on shares of Skyworks Solutions in a report on Wednesday, June 5th. JPMorgan Chase & Co. boosted their target price on shares of Skyworks Solutions from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Piper Jaffray Companies lowered their target price on shares of Skyworks Solutions from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, June 5th. Finally, Bank of America reissued an “underperform” rating and set a $80.00 target price (up previously from $70.00) on shares of Skyworks Solutions in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the stock. Skyworks Solutions presently has a consensus rating of “Hold” and a consensus target price of $86.40.

Shares of Skyworks Solutions stock traded down $0.03 during trading on Thursday, hitting $75.96. The stock had a trading volume of 77,045 shares, compared to its average volume of 2,300,193. The stock has a market capitalization 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 Inc has a 12 month low of $60.12 and a 12 month high of $94.39. The company’s 50-day moving average price is $80.72.

Skyworks Solutions (NASDAQ:SWKS) last released 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. The firm had revenue of $767.00 million for the quarter, compared to analysts’ expectations of $767.71 million. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The business’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Analysts anticipate that Skyworks Solutions Inc will post 5.73 earnings per share for the current year.

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

In related news, Director David J. Aldrich sold 5,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $79.40, for a total value of $397,000.00. Following the transaction, the director now owns 208,032 shares of the company’s stock, valued at $16,517,740.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter L. Gammel sold 2,250 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $73.36, for a total value of $165,060.00. Following the completion of the transaction, the insider now directly owns 11,490 shares in the company, valued at approximately $842,906.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,750 shares of company stock worth $3,984,835. 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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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).

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

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