Skyworks Solutions, Inc. (NASDAQ:SWKS) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 1,844.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 447,727 shares of the semiconductor manufacturer's stock after purchasing an additional 424,698 shares during the period. Assenagon Asset Management S.A. owned 0.29% of Skyworks Solutions worth $28,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Skyworks Solutions in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. purchased a new stake in shares of Skyworks Solutions in the 4th quarter valued at about $29,000. Picton Mahoney Asset Management purchased a new stake in Skyworks Solutions during the 4th quarter valued at approximately $33,000. Mattson Financial Services LLC purchased a new stake in Skyworks Solutions during the 4th quarter valued at approximately $37,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Skyworks Solutions by 60.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 223 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Barclays boosted their target price on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a report on Thursday, May 8th. Stifel Nicolaus boosted their target price on Skyworks Solutions from $62.00 to $72.00 and gave the company a "hold" rating in a report on Thursday, May 8th. UBS Group dropped their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a report on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $78.29.

Skyworks Solutions Stock Performance

NASDAQ SWKS traded up $0.73 on Monday, hitting $71.98. 2,601,326 shares of the company's stock were exchanged, compared to its average volume of 3,021,050. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The firm's 50-day moving average price is $66.46 and its two-hundred day moving average price is $74.01. Skyworks Solutions, Inc. has a fifty-two week low of $47.93 and a fifty-two week high of $120.86. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.79 and a beta of 1.16.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business 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%. The company's revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, research analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Tuesday, May 27th. Skyworks Solutions's dividend payout ratio is currently 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.