Skyworks Solutions, Inc. $SWKS Stock: Letko Brosseau & Associates Inc. Reduces Position

Letko Brosseau & Associates Inc. reduced its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 18.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,001,337 shares of the semiconductor manufacturer’s stock after selling 233,600 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Skyworks Solutions were worth $85,594,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in Skyworks Solutions by 1.9% in the second quarter. NewEdge Advisors LLC now owns 7,914 shares of the semiconductor manufacturer’s stock valued at $537,000 after buying an additional 145 shares during the last quarter. North Dakota State Investment Board grew its stake in shares of Skyworks Solutions by 3.3% during the third quarter. North Dakota State Investment Board now owns 4,598 shares of the semiconductor manufacturer’s stock worth $393,000 after acquiring an additional 148 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of Skyworks Solutions by 2.2% during the third quarter. Lido Advisors LLC now owns 8,150 shares of the semiconductor manufacturer’s stock valued at $697,000 after acquiring an additional 179 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Skyworks Solutions by 3.2% during the second quarter. Empirical Finance LLC now owns 5,794 shares of the semiconductor manufacturer’s stock valued at $393,000 after acquiring an additional 182 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Skyworks Solutions by 108.4% during the second quarter. Parkside Financial Bank & Trust now owns 396 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 206 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on SWKS. B. Riley Financial raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the company from $68.00 to $107.00 in a research report on Tuesday, October 6th. TD Cowen dropped their target price on shares of Skyworks Solutions from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Skyworks Solutions in a research note on Wednesday, October 28th. JPMorgan Chase & Co. upped their price target on shares of Skyworks Solutions from $65.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets started coverage on shares of Skyworks Solutions in a report on Friday, August 21st. They issued a “market perform” rating and a $70.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.94.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $90.03 on Friday. The stock has a 50-day simple moving average of $83.57 and a two-hundred day simple moving average of $68.71. The firm has a market capitalization of $13.55 billion, a P/E ratio of 78.97, a PEG ratio of 1.49 and a beta of 1.51. Skyworks Solutions, Inc. has a fifty-two week low of $51.93 and a fifty-two week high of $93.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.48 and a current ratio of 5.01.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Skyworks Solutions had a return on equity of 9.70% and a net margin of 4.35%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. On average, equities analysts forecast that Skyworks Solutions, Inc. will post 4.02 earnings per share for the current year.

Skyworks Solutions Profile

Skyworks Solutions, Inc. designs and manufactures semiconductor products that connect people, devices and networks. Its portfolio includes radio-frequency (RF) components and other analog and mixed-signal solutions used to transmit, receive and process signals. The company’s products include amplifiers, filters, switches and integrated RF modules, as well as connectivity solutions. They are used in smartphones and other mobile devices, automotive systems, broadband equipment, wireless infrastructure and Internet of Things applications.