Beacon Pointe Advisors LLC Sells 4,085 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Beacon Pointe Advisors LLC cut its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,377 shares of the semiconductor manufacturer's stock after selling 4,085 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Skyworks Solutions were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SWKS. Stephens Inc. AR lifted its stake in Skyworks Solutions by 9.5% in the fourth quarter. Stephens Inc. AR now owns 4,284 shares of the semiconductor manufacturer's stock valued at $380,000 after buying an additional 372 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Skyworks Solutions by 126.6% during the fourth 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 last quarter. Barclays PLC boosted its stake in shares of Skyworks Solutions by 96.4% during the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock valued at $191,023,000 after acquiring an additional 949,407 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Skyworks Solutions during the fourth quarter worth approximately $29,000. Finally, Proficio Capital Partners LLC acquired a new position in Skyworks Solutions in the fourth quarter valued at $2,509,000. Institutional investors and hedge funds own 85.43% of the company's stock.

Skyworks Solutions Stock Up 1.3 %

NASDAQ:SWKS traded up $0.87 during mid-day trading on Wednesday, reaching $66.88. The stock had a trading volume of 6,045,178 shares, compared to its average volume of 2,845,590. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The stock's 50 day simple moving average is $62.99 and its two-hundred day simple moving average is $77.64. Skyworks Solutions, Inc. has a 1-year low of $47.93 and a 1-year high of $120.86. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. Equities analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.19%. Skyworks Solutions's dividend payout ratio (DPR) is 85.89%.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace bought 10,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were bought at an average cost of $66.13 per share, with a total value of $661,300.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares of the company's stock, valued at approximately $661,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.28% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus cut shares of Skyworks Solutions from a "buy" rating to a "hold" rating and reduced their price target for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $80.00 price target (down from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. B. Riley downgraded Skyworks Solutions from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $65.00 in a report on Thursday, February 6th. Finally, Bank of America reduced their price objective on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $79.29.

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.