Meeder Asset Management Inc. Sells 106,761 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Meeder Asset Management Inc. lessened its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 78.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,491 shares of the semiconductor manufacturer’s stock after selling 106,761 shares during the quarter. Meeder Asset Management Inc.’s holdings in Skyworks Solutions were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Stephens Inc. AR increased its stake in shares of Skyworks Solutions by 9.5% during the 4th quarter. Stephens Inc. AR now owns 4,284 shares of the semiconductor manufacturer’s stock worth $380,000 after purchasing an additional 372 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Skyworks Solutions by 126.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 102,289 shares of the semiconductor manufacturer’s stock worth $9,047,000 after buying an additional 57,146 shares during the last quarter. Barclays PLC raised its stake in shares of Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after buying an additional 949,407 shares during the period. Captrust Financial Advisors lifted its position in shares of Skyworks Solutions by 20.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,603 shares of the semiconductor manufacturer’s stock valued at $3,615,000 after buying an additional 6,151 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Skyworks Solutions during the 4th quarter worth $29,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $64.12 on Monday. Skyworks Solutions, Inc. has a 52-week low of $62.01 and a 52-week high of $120.86. The company has a fifty day moving average of $73.20 and a 200-day moving average of $85.34. The company has a market capitalization of $10.31 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (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%. As a group, equities research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Monday, February 24th. Skyworks Solutions’s payout ratio is currently 85.89%.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Philip G. Brace bought 10,000 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $66.13 per share, with a total value of $661,300.00. Following the acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $661,300. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SWKS. Rosenblatt Securities restated a “neutral” rating and issued a $80.00 price objective (down from $120.00) on shares of Skyworks Solutions in a research note on Thursday, February 6th. Barclays lowered their price target on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Bank of America cut their price objective on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a report on Thursday, February 6th. Mizuho cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $62.00 in a report on Thursday, February 6th. Finally, Argus lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.78.

About Skyworks Solutions

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.