Cresset Asset Management LLC Decreases Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Cresset Asset Management LLC decreased its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 34.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,537 shares of the semiconductor manufacturer's stock after selling 20,465 shares during the quarter. Cresset Asset Management LLC's holdings in Skyworks Solutions were worth $3,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SWKS. Stephens Inc. AR lifted its holdings 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 acquiring an additional 372 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Skyworks Solutions by 126.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 102,289 shares of the semiconductor manufacturer's stock worth $9,047,000 after purchasing an additional 57,146 shares during the period. Barclays PLC lifted its stake in shares of Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock worth $191,023,000 after purchasing an additional 949,407 shares during the period. SBI Securities Co. Ltd. bought a new stake in Skyworks Solutions during the fourth quarter valued at approximately $29,000. Finally, Proficio Capital Partners LLC purchased a new stake in Skyworks Solutions during the fourth quarter valued at approximately $2,509,000. Institutional investors own 85.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SWKS shares. The Goldman Sachs Group cut their price objective on shares of Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Morgan Stanley reduced their price target on Skyworks Solutions from $87.00 to $72.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Argus lowered shares of Skyworks Solutions from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $78.29.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was acquired at an average price of $66.13 per share, with a total value of $661,300.00. Following the acquisition, the chief executive officer now directly owns 10,000 shares in the company, valued at $661,300. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.28% of the stock is owned by insiders.

Skyworks Solutions Trading Down 0.6%

Shares of NASDAQ:SWKS traded down $0.44 during trading on Tuesday, hitting $72.60. The company had a trading volume of 3,597,647 shares, compared to its average volume of 2,895,487. The company has a fifty day simple moving average of $63.18 and a two-hundred day simple moving average of $76.84. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $120.86.

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

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.86%. The ex-dividend date is Tuesday, May 27th. Skyworks Solutions's dividend payout ratio is presently 109.80%.

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.