Pictet Asset Management Ltd. Reduces Holdings in Skyworks Solutions Inc (NASDAQ:SWKS)

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Pictet Asset Management Ltd. lowered its stake in shares of Skyworks Solutions Inc (NASDAQ:SWKS) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,192 shares of the semiconductor manufacturer’s stock after selling 2,300 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Skyworks Solutions were worth $6,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its position in Skyworks Solutions by 20,005.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 937,520 shares of the semiconductor manufacturer’s stock worth $72,442,000 after purchasing an additional 932,857 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Skyworks Solutions by 26.4% during the second quarter. AQR Capital Management LLC now owns 3,708,676 shares of the semiconductor manufacturer’s stock valued at $286,347,000 after buying an additional 775,470 shares during the last quarter. Robecosam AG purchased a new stake in shares of Skyworks Solutions during the third quarter valued at $50,433,000. Platinum Investment Management Ltd. increased its position in shares of Skyworks Solutions by 32.4% in the 2nd quarter. Platinum Investment Management Ltd. now owns 2,553,417 shares of the semiconductor manufacturer’s stock valued at $197,303,000 after acquiring an additional 625,029 shares during the period. Finally, Cambiar Investors LLC acquired a new position in shares of Skyworks Solutions in the 3rd quarter valued at $45,851,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

In related news, CEO Liam Griffin sold 10,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $98.87, for a total value of $988,700.00. Following the completion of the transaction, the chief executive officer now owns 79,287 shares of the company’s stock, valued at approximately $7,839,105.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. Aldrich sold 40,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $97.47, for a total value of $3,898,800.00. Following the transaction, the director now owns 213,032 shares in the company, valued at approximately $20,764,229.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,884 shares of company stock worth $13,793,397. Corporate insiders own 0.64% of the company’s stock.

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Skyworks Solutions from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. BidaskClub cut Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Charter Equity reaffirmed a “hold” rating on shares of Skyworks Solutions in a report on Monday, August 12th. Needham & Company LLC upped their target price on Skyworks Solutions from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets increased their price target on shares of Skyworks Solutions to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $95.36.

SWKS opened at $97.44 on Wednesday. The firm has a fifty day moving average price of $95.20 and a 200 day moving average price of $81.73. Skyworks Solutions Inc has a 1 year low of $60.12 and a 1 year high of $102.87. The stock has a market cap of $16.75 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.43 and a beta of 1.05.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Skyworks Solutions had a net margin of 25.28% and a return on equity of 24.41%. The company had revenue of $827.00 million for the quarter, compared to analyst estimates of $824.01 million. During the same quarter last year, the business earned $1.94 earnings per share. The firm’s revenue was down 18.0% on a year-over-year basis. Analysts forecast that Skyworks Solutions Inc will post 5.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, December 2nd. Skyworks Solutions’s payout ratio is currently 30.82%.

Skyworks Solutions Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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