Pictet Asset Management Ltd. Reduces Position in Skyworks Solutions Inc (NASDAQ:SWKS)

Pictet Asset Management Ltd. decreased its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 78,192 shares of the semiconductor manufacturer’s stock after selling 2,300 shares during the period. Pictet Asset Management Ltd.’s holdings in Skyworks Solutions were worth $6,197,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SWKS. First Republic Investment Management Inc. boosted its position in Skyworks Solutions by 1,442.7% during the 2nd quarter. First Republic Investment Management Inc. now owns 112,956 shares of the semiconductor manufacturer’s stock valued at $8,728,000 after buying an additional 105,634 shares during the period. Peapack Gladstone Financial Corp raised its stake in shares of Skyworks Solutions by 7.7% during the second quarter. Peapack Gladstone Financial Corp now owns 9,483 shares of the semiconductor manufacturer’s stock valued at $732,000 after acquiring an additional 678 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $1,445,000. AXA purchased a new stake in shares of Skyworks Solutions during the second quarter worth about $385,000. Finally, Advisory Services Network LLC grew its stake in shares of Skyworks Solutions by 9.1% in the second quarter. Advisory Services Network LLC now owns 16,684 shares of the semiconductor manufacturer’s stock worth $1,289,000 after purchasing an additional 1,392 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

A number of research analysts have commented on the company. Raymond James reaffirmed an “outperform” rating and set a $110.00 price target (up previously from $90.00) on shares of Skyworks Solutions in a research report on Wednesday, November 13th. Charter Equity reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Monday, August 12th. Needham & Company LLC boosted their target price on Skyworks Solutions from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. ValuEngine upgraded Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, B. Riley raised their price target on Skyworks Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $95.36.

In other news, Director David J. Aldrich sold 10,000 shares of Skyworks Solutions stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $99.07, for a total transaction of $990,700.00. Following the sale, the director now owns 213,032 shares in the company, valued at $21,105,080.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy R. Furey sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $100.76, for a total transaction of $201,520.00. Following the completion of the transaction, the director now directly owns 18,824 shares in the company, valued at approximately $1,896,706.24. The disclosure for this sale can be found here. Insiders sold a total of 141,884 shares of company stock valued at $13,793,397 in the last quarter. 0.64% of the stock is currently owned by company insiders.

NASDAQ SWKS opened at $97.44 on Wednesday. The stock has a market capitalization of $16.75 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.43 and a beta of 1.05. Skyworks Solutions Inc has a 1-year low of $60.12 and a 1-year high of $102.87. The business’s fifty day moving average price is $95.20 and its 200-day moving average price is $81.73.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Skyworks Solutions had a return on equity of 24.41% and a net margin of 25.28%. The company had revenue of $827.00 million during the quarter, compared to analyst estimates of $824.01 million. During the same quarter in the previous year, the company posted $1.94 earnings per share. Skyworks Solutions’s revenue was down 18.0% compared to the same quarter last year. As a group, analysts expect that Skyworks Solutions Inc will post 5.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, December 2nd. Skyworks Solutions’s dividend payout ratio is currently 30.82%.

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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