Cypress Capital Group Cuts Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Cypress Capital Group cut its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 30.5% during the fourth quarter, HoldingsChannel reports. The fund owned 3,875 shares of the semiconductor manufacturer’s stock after selling 1,700 shares during the quarter. Cypress Capital Group’s holdings in Skyworks Solutions were worth $344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in Skyworks Solutions by 8.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 237,047 shares of the semiconductor manufacturer’s stock worth $23,413,000 after buying an additional 18,625 shares during the last quarter. National Pension Service grew its stake in Skyworks Solutions by 1.0% during the 3rd quarter. National Pension Service now owns 371,614 shares of the semiconductor manufacturer’s stock worth $36,704,000 after buying an additional 3,628 shares during the last quarter. QRG Capital Management Inc. grew its stake in Skyworks Solutions by 1.3% during the 3rd quarter. QRG Capital Management Inc. now owns 21,976 shares of the semiconductor manufacturer’s stock worth $2,171,000 after buying an additional 280 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Skyworks Solutions during the 3rd quarter worth $49,000. Finally, Principal Financial Group Inc. grew its stake in Skyworks Solutions by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 200,873 shares of the semiconductor manufacturer’s stock worth $19,840,000 after buying an additional 6,302 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Philip G. Brace acquired 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was bought at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the purchase, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $67.39 on Thursday. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.79 and a beta of 1.14. Skyworks Solutions, Inc. has a twelve month low of $62.01 and a twelve month high of $120.86. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $81.17 and a 200 day moving average of $89.97.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, February 24th. This represents a $2.80 annualized dividend and a yield of 4.15%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 85.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SWKS. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Craig Hallum lowered their price target on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group lowered their price target on Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price target on Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Citigroup lifted their price target on Skyworks Solutions from $72.00 to $84.00 and gave the stock a “sell” rating in a research report on Friday, January 10th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.78.

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.