Russell Investments Group Ltd. Decreases Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Russell Investments Group Ltd. trimmed its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 617,300 shares of the semiconductor manufacturer's stock after selling 70,661 shares during the period. Russell Investments Group Ltd. owned approximately 0.41% of Skyworks Solutions worth $39,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SWKS. Mattson Financial Services LLC purchased a new position in shares of Skyworks Solutions during the fourth quarter valued at approximately $37,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Skyworks Solutions by 60.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Skyworks Solutions by 450.7% during the first quarter. Brown Lisle Cummings Inc. now owns 771 shares of the semiconductor manufacturer's stock valued at $50,000 after purchasing an additional 631 shares during the last quarter. Costello Asset Management INC increased its holdings in Skyworks Solutions by 61.1% during the first quarter. Costello Asset Management INC now owns 791 shares of the semiconductor manufacturer's stock valued at $51,000 after buying an additional 300 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Skyworks Solutions during the first quarter valued at approximately $52,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen raised shares of Skyworks Solutions from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Barclays upped their target price on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Finally, Susquehanna upped their target price on shares of Skyworks Solutions from $60.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Skyworks Solutions presently has an average rating of "Hold" and a consensus target price of $72.87.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $75.36 on Friday. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.65 and a beta of 1.13. The firm's fifty day moving average is $72.90 and its 200 day moving average is $69.12. The company has a quick ratio of 1.80, a current ratio of 2.39 and a debt-to-equity ratio of 0.09. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.09. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $940.00 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Skyworks Solutions's revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $2.84 annualized dividend and a yield of 3.8%. This is a boost from Skyworks Solutions's previous quarterly dividend of $0.70. Skyworks Solutions's payout ratio is 112.00%.

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.

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