Skyworks Solutions, Inc. $SWKS Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Skyworks Solutions stake by 123% in the second quarter, purchasing 133,217 additional shares and bringing its holdings to 241,542 shares worth approximately $16.4 million.
• Skyworks beat quarterly expectations with $1.08 in EPS and $934.8 million in revenue, though revenue declined 3.1% year over year and earnings fell from $1.33 per share in the prior-year quarter.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $74.22 price target; shares recently opened at $68.79, while institutional investors own 85.43% of the stock.

Assenagon Asset Management S.A. raised its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 123.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,542 shares of the semiconductor manufacturer's stock after purchasing an additional 133,217 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Skyworks Solutions worth $16,377,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. United Services Automobile Association purchased a new position in shares of Skyworks Solutions during the first quarter worth $236,000. Focus Partners Wealth boosted its holdings in Skyworks Solutions by 99.0% during the 1st quarter. Focus Partners Wealth now owns 9,451 shares of the semiconductor manufacturer's stock valued at $611,000 after acquiring an additional 4,702 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Skyworks Solutions by 137.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,298 shares of the semiconductor manufacturer's stock valued at $171,000 after acquiring an additional 1,330 shares during the period. Gamco Investors INC. ET AL acquired a new position in Skyworks Solutions in the 2nd quarter valued at about $259,000. Finally, Gabelli Funds LLC acquired a new position in Skyworks Solutions in the 2nd quarter valued at about $1,004,000. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Price Performance

Skyworks Solutions stock opened at $68.79 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $66.76 and a 200-day simple moving average of $63.24. The stock has a market cap of $10.35 billion, a P/E ratio of 35.64 and a beta of 1.51. Skyworks Solutions, Inc. has a 12-month low of $51.93 and a 12-month high of $90.90.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its earnings results on Tuesday, July 28th. The semiconductor manufacturer reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. The firm had revenue of $934.80 million for the quarter, compared to analyst estimates of $925.97 million. Skyworks Solutions had a return on equity of 10.74% and a net margin of 7.23%.Skyworks Solutions's revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. Skyworks Solutions has set its Q4 2026 guidance at 1.270-1.270 EPS. Equities analysts expect that Skyworks Solutions, Inc. will post 3.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SWKS. Weiss Ratings raised shares of Skyworks Solutions from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Barclays upgraded shares of Skyworks Solutions from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $60.00 to $70.00 in a report on Wednesday, April 22nd. Mizuho cut their target price on shares of Skyworks Solutions from $55.00 to $52.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 29th. UBS Group increased their target price on shares of Skyworks Solutions from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Finally, Loop Capital raised their price target on shares of Skyworks Solutions from $60.00 to $70.00 in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $74.22.

About Skyworks Solutions

Skyworks Solutions, Inc is a leading semiconductor company that designs and manufactures analog and mixed-signal semiconductors for use in radio frequency (RF) and mobile communications markets. The company's portfolio includes power amplifiers, front-end modules, switches, filters, low-noise amplifiers, and other components that enable wireless connectivity in smartphones, tablets, wearables, automotive telematics, and broadband infrastructure. With a focus on energy efficiency and integration, Skyworks serves a broad range of customers in the mobile, Internet of Things (IoT), automotive, connected home, and industrial end markets.

Headquartered in Irvine, California, Skyworks operates a network of design, development, and manufacturing facilities across North America, Europe, and the Asia-Pacific region.

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