Pitcairn Co. Reduces Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Pitcairn Co. cut its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,824 shares of the semiconductor manufacturer’s stock after selling 221 shares during the quarter. Pitcairn Co.’s holdings in Skyworks Solutions were worth $250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Skyworks Solutions in the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new position in Skyworks Solutions in the fourth quarter valued at approximately $29,000. Picton Mahoney Asset Management purchased a new stake in Skyworks Solutions in the 4th quarter worth approximately $33,000. Manchester Capital Management LLC grew its stake in shares of Skyworks Solutions by 325.2% during the 4th quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $49,000 after purchasing an additional 426 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Skyworks Solutions during the 4th quarter valued at approximately $56,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace acquired 10,000 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SWKS. Bank of America lowered their price target on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a report on Thursday, February 6th. Citigroup raised their target price on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Barclays lowered their price target on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.78.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $52.78 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94. The stock’s fifty day moving average is $70.01 and its two-hundred day moving average is $84.00. The firm has a market capitalization of $8.28 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.79 and a beta of 1.21. Skyworks Solutions, Inc. has a fifty-two week low of $49.69 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. On average, research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 5.31%. The ex-dividend date was Monday, February 24th. Skyworks Solutions’s payout ratio is presently 85.89%.

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.