126,233 Skyworks Solutions, Inc. $SWKS Shares Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors cut its Skyworks stake by 73.7% in the third quarter, selling 126,233 shares and ending the period with 45,034 shares valued at about $3.85 million.
• Other investors made mixed moves, while institutional investors and hedge funds collectively owned 85.43% of Skyworks shares.
• Skyworks slightly beat quarterly earnings and revenue estimates, but weak sales guidance and analyst downgrades weighed on the outlook; MarketBeat reported a consensus “Hold” rating and a $77.28 average price target.

ProShare Advisors LLC reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 73.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,034 shares of the semiconductor manufacturer's stock after selling 126,233 shares during the quarter. ProShare Advisors LLC's holdings in Skyworks Solutions were worth $3,850,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Fortitude Family Office LLC raised its position in shares of Skyworks Solutions by 254.7% in the 3rd quarter. Fortitude Family Office LLC now owns 337 shares of the semiconductor manufacturer's stock valued at $29,000 after purchasing an additional 242 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Skyworks Solutions by 108.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 396 shares of the semiconductor manufacturer's stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. Caitlin John LLC purchased a new stake in Skyworks Solutions in the second quarter valued at $27,000. J.Safra Asset Management Corp purchased a new stake in shares of Skyworks Solutions in the second quarter worth about $28,000. Finally, Hara Capital LLC acquired a new stake in shares of Skyworks Solutions during the 2nd quarter worth approximately $35,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions News Summary

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Skyworks was upgraded to Zacks Rank #1 (Strong Buy), reflecting improved earnings-prospect assessments and potentially supporting near-term sentiment. Article: All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Positive Sentiment: Fiscal Q4 earnings and revenue came in above consensus, with reported surprises of 0.79% and 1.49%, respectively. However, both sales and earnings were down year over year, limiting the upside from the beat. Article: Skyworks Solutions Tops Q4 Earnings and Revenue Estimates
• Neutral Sentiment: Management sees potential to improve gross margins to 50%–55% over the next 24–36 months as the Qorvo combination progresses. The longer-term opportunity is balanced by near-term integration and execution risks. Article: Skyworks Targets Higher Gross Margins as Qorvo Deal Reshapes Outlook
• Negative Sentiment: The main concern is first-quarter sales guidance below expectations. Analysts also flagged Android handset weakness and a revenue contraction following the Qorvo deal, delaying anticipated merger benefits. Article: Skyworks Stocks Decline as Qorvo Integration Starts With a Revenue Contraction
• Negative Sentiment: Analyst actions added pressure: Barclays cut its rating to Equal Weight, while Citi, RBC and Susquehanna lowered price targets; Goldman Sachs initiated coverage with a Sell rating. Article: Analysts Lower Forecasts on Skyworks Following Q4 Results

Wall Street Analyst Weigh In

SWKS has been the topic of a number of analyst reports. TD Cowen dropped their target price on Skyworks Solutions from $75.00 to $65.00 and set a "hold" rating on the stock in a research report on Wednesday, July 29th. UBS Group raised their price objective on Skyworks Solutions from $70.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, October 29th. Royal Bank Of Canada cut their price objective on Skyworks Solutions from $95.00 to $80.00 and set a "sector perform" rating for the company in a research report on Wednesday. Jefferies Financial Group downgraded Skyworks Solutions to a "buy" rating in a research note on Wednesday. Finally, KeyCorp lowered Skyworks Solutions from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Skyworks Solutions presently has a consensus rating of "Hold" and an average price target of $77.28.

Skyworks Solutions Trading Down 2.1%

SWKS stock opened at $81.21 on Friday. Skyworks Solutions, Inc. has a 12-month low of $51.93 and a 12-month high of $92.80. The business's 50-day moving average is $81.84 and its 200 day moving average is $68.05. The company has a current ratio of 3.34, a quick ratio of 1.94 and a debt-to-equity ratio of 0.43. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 71.24, a PEG ratio of 2.10 and a beta of 1.51.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.04 billion. On average, sell-side analysts anticipate that Skyworks Solutions, Inc. will post 3.78 EPS for the current fiscal year.

Skyworks Solutions Profile

Skyworks Solutions, Inc NASDAQ: SWKS is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.

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