Comerica Bank Sells 4,300 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Comerica Bank reduced its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,978 shares of the semiconductor manufacturer's stock after selling 4,300 shares during the period. Comerica Bank's holdings in Skyworks Solutions were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake 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 during the last quarter. Pzena Investment Management LLC grew its position in Skyworks Solutions by 37.5% during the 4th 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 increased its holdings in Skyworks Solutions by 29.2% in the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock worth $469,162,000 after purchasing an additional 1,194,782 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Skyworks Solutions by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer's stock valued at $452,135,000 after purchasing an additional 267,343 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Skyworks Solutions by 1.5% during the fourth 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 in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Philip G. Brace bought 10,000 shares of Skyworks Solutions stock in a transaction dated Tuesday, February 25th. The stock was bought at an average cost of $66.13 per share, with a total value of $661,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on SWKS. Benchmark reiterated a "hold" rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Stifel Nicolaus increased their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a report on Thursday. Barclays upped their price target on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, B. Riley cut Skyworks Solutions from a "buy" rating to a "neutral" rating and reduced their target price for the company from $110.00 to $65.00 in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Skyworks Solutions presently has a consensus rating of "Hold" and an average target price of $78.29.

Skyworks Solutions Stock Up 1.4 %

SWKS traded up $0.94 during trading on Friday, hitting $68.23. 5,017,390 shares of the company's stock were exchanged, compared to its average volume of 2,878,748. The stock has a market cap of $10.24 billion, a P/E ratio of 20.93, a PEG ratio of 1.79 and a beta of 1.18. The business's 50 day moving average is $63.07 and its two-hundred day moving average is $77.00. Skyworks Solutions, Inc. has a fifty-two week low of $47.93 and a fifty-two week high of $120.86. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16.

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 (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $953.20 million for 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 quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, equities analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Tuesday, May 27th. Skyworks Solutions's dividend payout ratio (DPR) is presently 109.80%.

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.