Assenagon Asset Management S.A. Cuts Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Assenagon Asset Management S.A. cut its position in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 32.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,071 shares of the semiconductor manufacturer’s stock after selling 12,748 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Skyworks Solutions were worth $2,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SWKS. BNP Paribas purchased a new position in Skyworks Solutions in the first quarter valued at about $27,000. Innealta Capital LLC purchased a new position in Skyworks Solutions in the second quarter valued at about $27,000. Rothschild Investment LLC purchased a new position in Skyworks Solutions in the second quarter valued at about $27,000. Access Investment Management LLC purchased a new position in Skyworks Solutions in the first quarter valued at about $31,000. Finally, Blue Trust Inc. boosted its stake in Skyworks Solutions by 79.7% in the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 149 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SWKS has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Skyworks Solutions to a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price objective on shares of Skyworks Solutions from $112.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. B. Riley cut their price objective on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Bank of America raised their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, July 31st. Finally, Craig Hallum raised their price objective on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Skyworks Solutions currently has a consensus rating of “Hold” and a consensus target price of $109.88.

Insider Activity

In other news, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now owns 27,026 shares in the company, valued at approximately $2,638,548.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction on Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now owns 27,026 shares in the company, valued at $2,638,548.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now owns 17,455 shares in the company, valued at approximately $1,875,888.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,341 shares of company stock worth $2,142,110. 0.34% of the stock is currently owned by corporate insiders.

Skyworks Solutions Stock Performance

Skyworks Solutions stock opened at $87.58 on Friday. The firm’s fifty day moving average price is $99.50 and its 200-day moving average price is $101.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.29 and a current ratio of 5.75. The stock has a market cap of $13.99 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 4.32 and a beta of 1.20. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same quarter last year, the company posted $1.50 EPS. On average, equities research analysts expect that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current fiscal year.

Skyworks Solutions 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.