Assenagon Asset Management S.A. Acquires 424,698 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Assenagon Asset Management S.A. grew its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 1,844.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 447,727 shares of the semiconductor manufacturer's stock after purchasing an additional 424,698 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.29% of Skyworks Solutions worth $28,937,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Skyworks Solutions by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 20,341,842 shares of the semiconductor manufacturer's stock worth $1,803,915,000 after buying an additional 562,783 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Skyworks Solutions by 37.5% in the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock valued at $499,273,000 after purchasing an additional 1,536,289 shares during the period. Vulcan Value Partners LLC lifted its stake in shares of Skyworks Solutions by 29.2% in the 4th quarter. Vulcan Value Partners LLC now owns 5,290,813 shares of the semiconductor manufacturer's stock valued at $469,162,000 after purchasing an additional 1,194,782 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Skyworks Solutions by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,098,497 shares of the semiconductor manufacturer's stock valued at $452,135,000 after purchasing an additional 267,343 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Skyworks Solutions by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,206,855 shares of the semiconductor manufacturer's stock valued at $372,727,000 after purchasing an additional 63,216 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Performance

Skyworks Solutions stock traded down $0.76 during mid-day trading on Friday, reaching $71.25. 3,365,824 shares of the stock traded hands, compared to its average volume of 3,023,765. 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 business's 50-day moving average is $66.01 and its 200-day moving average is $74.30. The stock has a market capitalization of $10.70 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.79 and a beta of 1.16. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $953.20 million during 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 business's quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 earnings per share. As a group, sell-side analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Tuesday, May 27th. Skyworks Solutions's payout ratio is 109.80%.

Wall Street Analysts Forecast Growth

SWKS has been the subject of a number of research analyst reports. UBS Group lowered their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Barclays lifted their price objective on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their price objective on Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Finally, 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 note on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.29.

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.