Skyworks Solutions, Inc. $SWKS Stock Sold by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management cut its Skyworks stake by 51.3% in the third quarter, selling 18,150 shares and ending the period with 17,224 shares worth about $1.52 million.
• Skyworks narrowly beat quarterly estimates, reporting $1.28 earnings per share and $1.05 billion in revenue, versus analyst expectations of $1.27 and $1.04 billion, respectively.
• Analyst views are mostly cautious: the consensus rating is Hold, with a $77.28 average price target; several firms recently lowered targets or issued negative ratings.

Rakuten Investment Management Inc. cut its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 51.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,224 shares of the semiconductor manufacturer's stock after selling 18,150 shares during the period. Rakuten Investment Management Inc.'s holdings in Skyworks Solutions were worth $1,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Skyworks Solutions in the second quarter worth $1,393,584,000. Pzena Investment Management LLC acquired a new position in Skyworks Solutions in the second quarter valued at about $1,082,972,000. Dimensional Fund Advisors LP raised its stake in Skyworks Solutions by 19.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,612,201 shares of the semiconductor manufacturer's stock valued at $246,978,000 after purchasing an additional 753,004 shares in the last quarter. Bank of America Corp DE acquired a new position in Skyworks Solutions in the second quarter valued at about $180,898,000. Finally, Bank of New York Mellon Corp acquired a new position in Skyworks Solutions in the second quarter valued at about $143,597,000. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Trading Up 1.2%

Shares of SWKS stock opened at $82.19 on Friday. The stock's fifty day moving average price is $82.14 and its two-hundred day moving average price is $68.17. The company has a market cap of $12.37 billion, a PE ratio of 72.10, a P/E/G ratio of 1.48 and a beta of 1.51. Skyworks Solutions, Inc. has a fifty-two week low of $51.93 and a fifty-two week high of $92.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.94 and a current ratio of 3.34.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.01. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.04 billion. Equities analysts predict that Skyworks Solutions, Inc. will post 3.78 EPS for the current fiscal year.

Analyst Ratings Changes

SWKS has been the subject of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Skyworks Solutions in a research report on Wednesday. They set a "sell" rating and a $78.00 price objective for the company. Mizuho set a $58.00 target price on shares of Skyworks Solutions in a report on Wednesday. Weiss Ratings restated a "hold (c-)" rating on shares of Skyworks Solutions in a research report on Wednesday, October 28th. Bank of America dropped their target price on shares of Skyworks Solutions from $78.00 to $72.00 and set an "underperform" rating for the company in a research report on Wednesday. Finally, Citigroup cut their price target on shares of Skyworks Solutions from $90.00 to $79.00 and set a "neutral" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Skyworks Solutions presently has an average rating of "Hold" and a consensus price target of $77.28.

Skyworks Solutions News Summary

Here are the key news stories impacting Skyworks Solutions this week:

• Positive Sentiment: Zacks upgraded Skyworks to Rank #1 (Strong Buy), citing improving earnings prospects; the upgrade could support investor optimism. All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Neutral Sentiment: Goldman Sachs was reported among institutions picking up SWKS shares, though the headline provides no details on the size or timing of the purchase. Skyworks Stock Picked Up by Analysts at The Goldman Sachs Group
• Negative Sentiment: Analyst caution is more widespread: Barclays cut its rating from Overweight to Equal Weight and set a $79 target, while TD Cowen maintained a Hold and RBC lowered its expectations. Susquehanna also issued a pessimistic forecast. Reports linked an analyst downgrade to a gap down in SWKS shares. Barclays rating TD Cowen rating RBC lowers expectations Susquehanna forecast
• Negative Sentiment: Weakness across handset-related stocks—including a sharp Qualcomm selloff after cautious guidance and concerns about handset demand—adds a sector headwind for Skyworks. Qualcomm and handset-sector news

Skyworks Solutions Company Profile

Skyworks Solutions, Inc designs and manufactures semiconductor products that connect people, devices and networks. Its portfolio includes radio-frequency (RF) components and other analog and mixed-signal solutions used to transmit, receive and process signals.

The company's products include amplifiers, filters, switches and integrated RF modules, as well as connectivity solutions. They are used in smartphones and other mobile devices, automotive systems, broadband equipment, wireless infrastructure and Internet of Things applications.

Headquartered in Irvine, California, Skyworks serves customers around the world.

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