Envestnet Asset Management Inc. Has $27.94 Million Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Envestnet Asset Management Inc. lessened its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 262,104 shares of the semiconductor manufacturer’s stock after selling 47,001 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Skyworks Solutions were worth $27,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SWKS. BNP Paribas acquired a new position in shares of Skyworks Solutions in the first quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in Skyworks Solutions in the 2nd quarter valued at $27,000. Rothschild Investment LLC acquired a new position in Skyworks Solutions in the 2nd quarter valued at $27,000. Access Investment Management LLC bought a new position in Skyworks Solutions during the 1st quarter worth $31,000. Finally, Blue Trust Inc. boosted its position in shares of 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 period. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Trading Down 1.7 %

Shares of Skyworks Solutions stock opened at $97.76 on Friday. The company has a current ratio of 5.75, a quick ratio of 4.29 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $106.72 and a 200 day simple moving average of $103.00. Skyworks Solutions, Inc. has a 12-month low of $85.06 and a 12-month high of $120.86. The company has a market capitalization of $15.69 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 4.56 and a beta of 1.21.

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

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. Skyworks Solutions’s dividend payout ratio is currently 52.63%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SWKS. Bank of America lifted their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised Skyworks Solutions to a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus upped their target price on Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Finally, Robert W. Baird increased their price target on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $114.18.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the transaction, the senior vice president now owns 37,203 shares of the company’s stock, valued at $3,793,589.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the transaction, the senior vice president now directly owns 37,203 shares in the company, valued at $3,793,589.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,068 shares of company stock valued at $1,252,490. 0.34% of the stock is owned by insiders.

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.