Assetmark Inc. Decreases Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Key Points

• Assetmark Inc. significantly reduced its stake in Skyworks Solutions by 99.7% in the first quarter, leaving it with only 689 shares valued at $45,000.
• Other institutional investors have taken varying approaches, with Oak Thistle LLC increasing its position by 263.3% and several firms establishing new positions in the company.
• The stock's current market cap is $10.20 billion, with an average rating of "Hold" and a target price of $74.07 among analysts.

Assetmark Inc. reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 99.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 689 shares of the semiconductor manufacturer's stock after selling 206,032 shares during the period. Assetmark Inc.'s holdings in Skyworks Solutions were worth $45,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SWKS. Pzena Investment Management LLC lifted its position in shares of Skyworks Solutions by 37.9% during the first quarter. Pzena Investment Management LLC now owns 7,762,896 shares of the semiconductor manufacturer's stock valued at $501,716,000 after purchasing an additional 2,132,847 shares in the last quarter. Marshall Wace LLP increased its stake in Skyworks Solutions by 4,364.4% in the 4th quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer's stock valued at $126,072,000 after buying an additional 1,389,803 shares during the last quarter. Vulcan Value Partners LLC lifted its position in shares of 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 buying an additional 1,194,782 shares in the last quarter. Invesco Ltd. lifted its position in shares of Skyworks Solutions by 17.1% during the 4th quarter. Invesco Ltd. now owns 3,161,697 shares of the semiconductor manufacturer's stock worth $280,379,000 after buying an additional 462,264 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Skyworks Solutions by 1,844.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 447,727 shares of the semiconductor manufacturer's stock worth $28,937,000 after buying an additional 424,698 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup increased their price target on Skyworks Solutions from $63.00 to $66.00 and gave the company a "sell" rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Stifel Nicolaus increased their price target on shares of Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Finally, Mizuho raised their price objective on shares of Skyworks Solutions from $72.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $72.87.

Skyworks Solutions Price Performance

NASDAQ:SWKS traded up $2.45 during trading hours on Friday, hitting $71.00. The stock had a trading volume of 836,987 shares, compared to its average volume of 3,511,657. The company has a 50 day simple moving average of $72.66 and a two-hundred day simple moving average of $69.79. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 3.84. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $110.76.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.09. The business had revenue of $965.00 million during the quarter, compared to analysts' expectations of $940.00 million. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The business's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. Research analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Skyworks Solutions's previous quarterly dividend of $0.70. Skyworks Solutions's payout ratio is 113.60%.

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.