Alliancebernstein L.P. Trims Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Alliancebernstein L.P. cut its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,614 shares of the semiconductor manufacturer's stock after selling 45,083 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Skyworks Solutions worth $17,436,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp raised its holdings in Skyworks Solutions by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 82,531 shares of the semiconductor manufacturer's stock valued at $8,153,000 after acquiring an additional 5,190 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Skyworks Solutions by 246.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 18,204 shares of the semiconductor manufacturer's stock valued at $1,798,000 after acquiring an additional 12,955 shares in the last quarter. MML Investors Services LLC raised its stake in Skyworks Solutions by 0.9% in the 3rd quarter. MML Investors Services LLC now owns 21,156 shares of the semiconductor manufacturer's stock worth $2,090,000 after purchasing an additional 196 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Skyworks Solutions during the 3rd quarter worth approximately $2,452,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Skyworks Solutions by 5.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 72,403 shares of the semiconductor manufacturer's stock worth $7,151,000 after purchasing an additional 4,019 shares during the period. Institutional investors and hedge funds own 85.43% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently commented on SWKS. Stifel Nicolaus cut Skyworks Solutions from a "buy" rating to a "hold" rating and decreased their price target for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Needham & Company LLC restated a "hold" rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Benchmark reaffirmed a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on shares of Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Finally, Piper Sandler dropped their price target on Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $83.78.

Insider Buying and Selling

In related news, CEO Philip G. Brace purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were purchased 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 directly owns 10,000 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Skyworks Solutions Stock Performance

SWKS traded up $1.63 during trading hours on Monday, hitting $58.17. The stock had a trading volume of 431,570 shares, compared to its average volume of 2,794,128. The stock has a market cap of $9.12 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.21. Skyworks Solutions, Inc. has a 1 year low of $47.93 and a 1 year high of $120.86. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. The company's fifty day simple moving average is $65.28 and its 200 day simple moving average is $81.96.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released 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%. Equities analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Monday, February 24th. Skyworks Solutions's dividend payout ratio is presently 85.89%.

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.