Skyworks Solutions, Inc. $SWKS Stock: ProShare Advisors LLC Cuts Holdings

ProShare Advisors LLC lessened its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 73.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,034 shares of the semiconductor manufacturer’s stock after selling 126,233 shares during the quarter. ProShare Advisors LLC’s holdings in Skyworks Solutions were worth $3,850,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SWKS. Vise Technologies Inc. lifted its stake in shares of Skyworks Solutions by 19.3% in the 3rd quarter. Vise Technologies Inc. now owns 5,567 shares of the semiconductor manufacturer’s stock valued at $476,000 after purchasing an additional 899 shares during the last quarter. Cidel Asset Management Inc. acquired a new stake in shares of Skyworks Solutions during the 3rd quarter worth about $234,000. Unison Advisors LLC increased its position in shares of Skyworks Solutions by 1.2% during the 3rd quarter. Unison Advisors LLC now owns 18,845 shares of the semiconductor manufacturer’s stock worth $1,611,000 after purchasing an additional 218 shares during the last quarter. MGO One Seven LLC increased its position in shares of Skyworks Solutions by 16.9% during the 3rd quarter. MGO One Seven LLC now owns 4,077 shares of the semiconductor manufacturer’s stock worth $349,000 after purchasing an additional 589 shares during the last quarter. Finally, Avestar Capital LLC purchased a new stake in Skyworks Solutions in the 3rd quarter valued at about $289,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

More Skyworks Solutions News

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

• Positive Sentiment: Skyworks was upgraded to Zacks Rank #1 (Strong Buy), reflecting improved earnings-prospect assessments and potentially supporting near-term sentiment. Article: All You Need to Know About Skyworks Rating Upgrade to Strong Buy
• Positive Sentiment: Fiscal Q4 earnings and revenue came in above consensus, with reported surprises of 0.79% and 1.49%, respectively. However, both sales and earnings were down year over year, limiting the upside from the beat. Article: Skyworks Solutions Tops Q4 Earnings and Revenue Estimates
• Neutral Sentiment: Management sees potential to improve gross margins to 50%–55% over the next 24–36 months as the Qorvo combination progresses. The longer-term opportunity is balanced by near-term integration and execution risks. Article: Skyworks Targets Higher Gross Margins as Qorvo Deal Reshapes Outlook
• Negative Sentiment: The main concern is first-quarter sales guidance below expectations. Analysts also flagged Android handset weakness and a revenue contraction following the Qorvo deal, delaying anticipated merger benefits. Article: Skyworks Stocks Decline as Qorvo Integration Starts With a Revenue Contraction
• Negative Sentiment: Analyst actions added pressure: Barclays cut its rating to Equal Weight, while Citi, RBC and Susquehanna lowered price targets; Goldman Sachs initiated coverage with a Sell rating. Article: Analysts Lower Forecasts on Skyworks Following Q4 Results

Wall Street Analysts Forecast Growth

SWKS has been the topic of a number of research analyst reports. Morgan Stanley set a $93.00 price target on shares of Skyworks Solutions in a research note on Wednesday. Jefferies Financial Group cut shares of Skyworks Solutions to a “buy” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Skyworks Solutions from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Benchmark reissued a “hold” rating on shares of Skyworks Solutions in a research report on Monday, July 27th. Finally, Bank of America decreased their price target on Skyworks Solutions from $78.00 to $72.00 and set an “underperform” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Skyworks Solutions has an average rating of “Hold” and a consensus price target of $77.28.

Skyworks Solutions Trading Down 2.1%

NASDAQ SWKS opened at $81.21 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.94 and a current ratio of 3.34. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 71.24, a PEG ratio of 2.10 and a beta of 1.51. The firm has a 50 day simple moving average of $81.84 and a 200-day simple moving average of $68.05. Skyworks Solutions, Inc. has a one year low of $51.93 and a one year high of $92.80.

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

Skyworks Solutions Company Profile

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.