Pallas Capital Advisors LLC Makes New Investment in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Pallas Capital Advisors LLC acquired a new position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 6,148 shares of the semiconductor manufacturer’s stock, valued at approximately $397,000.

Other hedge funds also recently added to or reduced their stakes in the company. Stephens Inc. AR lifted its position in Skyworks Solutions by 9.5% during the 4th quarter. Stephens Inc. AR now owns 4,284 shares of the semiconductor manufacturer’s stock worth $380,000 after acquiring an additional 372 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Skyworks Solutions by 126.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,289 shares of the semiconductor manufacturer’s stock worth $9,047,000 after acquiring an additional 57,146 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Skyworks Solutions during the 4th quarter worth approximately $29,000. Proficio Capital Partners LLC acquired a new stake in Skyworks Solutions during the 4th quarter worth approximately $2,509,000. Finally, Oppenheimer & Co. Inc. lifted its position in Skyworks Solutions by 66.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,953 shares of the semiconductor manufacturer’s stock worth $351,000 after acquiring an additional 1,578 shares during the period. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $72.01 on Friday. The stock has a fifty day moving average price of $65.56 and a 200 day moving average price of $74.40. The stock has a market cap of $10.81 billion, a PE ratio of 22.09, a P/E/G ratio of 1.79 and a beta of 1.16. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $953.20 million during the quarter, compared to analysts’ expectations of $951.50 million. Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Skyworks Solutions’s revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Skyworks Solutions’s payout ratio is 109.80%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price target on Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Barclays raised their price target on Skyworks Solutions from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, May 8th. Finally, UBS Group reduced their price target on Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $78.29.

About Skyworks Solutions

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.