Ameriprise Financial Inc. Cuts Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Ameriprise Financial Inc. trimmed its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 46.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,145 shares of the semiconductor manufacturer's stock after selling 159,383 shares during the quarter. Ameriprise Financial Inc. owned 0.12% of Skyworks Solutions worth $16,507,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Skyworks Solutions by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer's stock worth $1,803,915,000 after buying an additional 562,783 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Skyworks Solutions by 37.5% in the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock worth $499,273,000 after acquiring an additional 1,536,289 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in Skyworks Solutions by 29.2% during the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock worth $469,162,000 after acquiring an additional 1,194,782 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Skyworks Solutions by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer's stock worth $452,135,000 after acquiring an additional 267,343 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Skyworks Solutions by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer's stock valued at $372,727,000 after purchasing an additional 63,216 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company's stock.

Wall Street Analysts Forecast Growth

SWKS has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating for the company in a research report on Thursday, February 6th. Mizuho downgraded Skyworks Solutions from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $62.00 in a report on Thursday, February 6th. The Goldman Sachs Group dropped their price objective on Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Barclays raised their target price on Skyworks Solutions from $45.00 to $52.00 and gave the stock an "underweight" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley lowered their price target on Skyworks Solutions from $87.00 to $72.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $78.29.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $0.93 during midday trading on Thursday, hitting $70.42. 492,759 shares of the company's stock were exchanged, compared to its average volume of 2,912,161. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $120.86. The firm's 50 day simple moving average is $63.65 and its 200 day simple moving average is $76.11.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $953.20 million during the quarter, compared to the consensus estimate of $951.50 million. Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. The business's quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Equities research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.98%. Skyworks Solutions's dividend payout ratio (DPR) is currently 109.80%.

Insider Activity

In other news, CEO Philip G. Brace acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.28% of the company's stock.

Skyworks Solutions Company Profile

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.