Lazard Asset Management LLC Trims Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Lazard Asset Management LLC trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 90.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,224 shares of the semiconductor manufacturer’s stock after selling 1,074,807 shares during the quarter. Lazard Asset Management LLC owned approximately 0.07% of Skyworks Solutions worth $12,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Duality Advisers LP purchased a new stake in shares of Skyworks Solutions in the first quarter valued at about $1,517,000. State of Tennessee Treasury Department lifted its position in Skyworks Solutions by 152.8% during the 4th quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock worth $13,373,000 after acquiring an additional 71,899 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Skyworks Solutions in the 4th quarter valued at approximately $10,053,000. Brookstone Capital Management purchased a new position in shares of Skyworks Solutions in the 1st quarter valued at approximately $262,000. Finally, FIL Ltd increased its holdings in shares of Skyworks Solutions by 2.4% in the fourth quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after purchasing an additional 64,389 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Trading Up 3.1 %

Shares of Skyworks Solutions stock traded up $3.50 during trading hours on Friday, reaching $116.18. The stock had a trading volume of 2,207,493 shares, compared to its average volume of 2,520,524. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $120.86. The firm has a 50 day simple moving average of $103.59 and a two-hundred day simple moving average of $102.98. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 5.53 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, equities research analysts anticipate that Skyworks Solutions, Inc. will post 5.14 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Monday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is 51.13%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SWKS. Benchmark lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lowered their price objective on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. KeyCorp downgraded Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, May 1st. Finally, Rosenblatt Securities cut their price objective on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Skyworks Solutions presently has an average rating of “Hold” and a consensus target price of $107.14.

Insider Activity

In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now owns 60,881 shares in the company, valued at approximately $5,495,727.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Philip Matthew Carter sold 452 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $110.00, for a total value of $49,720.00. Following the completion of the sale, the vice president now directly owns 9,564 shares of the company’s stock, valued at $1,052,040. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert A. Schriesheim sold 25,433 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now directly owns 60,881 shares in the company, valued at approximately $5,495,727.87. The disclosure for this sale can be found here. Insiders have sold 26,337 shares of company stock worth $2,399,797 over the last 90 days. Company insiders own 0.34% of the company’s stock.

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.