Cary Street Partners Investment Advisory LLC Sells 3,080 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Cary Street Partners Investment Advisory LLC trimmed its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 64.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,667 shares of the semiconductor manufacturer’s stock after selling 3,080 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Skyworks Solutions were worth $187,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. boosted its position in shares of Skyworks Solutions by 98.1% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of Skyworks Solutions during the third quarter valued at approximately $34,000. AdvisorNet Financial Inc raised its position in shares of Skyworks Solutions by 790.0% during the fourth quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 316 shares during the period. West Branch Capital LLC grew its position in Skyworks Solutions by 8,000.0% in the 4th quarter. West Branch Capital LLC now owns 405 shares of the semiconductor manufacturer’s stock valued at $46,000 after purchasing an additional 400 shares during the period. Finally, Avior Wealth Management LLC increased its stake in Skyworks Solutions by 47.9% during the 4th quarter. Avior Wealth Management LLC now owns 420 shares of the semiconductor manufacturer’s stock valued at $47,000 after purchasing an additional 136 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Trading Down 15.3 %

Shares of SWKS opened at $90.30 on Thursday. The firm has a market cap of $14.47 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.35. Skyworks Solutions, Inc. has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02. The business has a 50-day moving average of $104.21 and a 200 day moving average of $101.99.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.20%. Skyworks Solutions’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. As a group, research analysts forecast that Skyworks Solutions, Inc. will post 5.65 EPS for the current year.

Skyworks Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.01%. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SWKS shares. Stifel Nicolaus reduced their price objective on shares of Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday. B. Riley increased their price objective on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. TD Cowen lowered Skyworks Solutions from a “buy” rating to a “hold” rating and dropped their target price for the company from $125.00 to $90.00 in a report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus price target of $109.05.

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.