Russell Investments Group Ltd. Sells 35,914 Shares of Skyworks Solutions, Inc. $SWKS

Russell Investments Group Ltd. decreased its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 851,929 shares of the semiconductor manufacturer’s stock after selling 35,914 shares during the period. Russell Investments Group Ltd.’s holdings in Skyworks Solutions were worth $72,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Skyworks Solutions in the 2nd quarter worth $1,393,584,000. Pzena Investment Management LLC purchased a new stake in Skyworks Solutions during the second quarter valued at about $1,082,972,000. Dimensional Fund Advisors LP grew its stake in shares of Skyworks Solutions by 19.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,612,201 shares of the semiconductor manufacturer’s stock valued at $246,978,000 after buying an additional 753,004 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Skyworks Solutions during the second quarter valued at about $180,898,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Skyworks Solutions in the second quarter worth about $143,597,000. Institutional investors own 85.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SWKS. William Blair reissued a “buy” rating on shares of Skyworks Solutions in a research note on Wednesday, July 29th. B. Riley Financial upgraded Skyworks Solutions from a “neutral” rating to a “buy” rating and raised their price target for the stock from $68.00 to $107.00 in a research report on Tuesday, October 6th. Jefferies Financial Group cut Skyworks Solutions to a “buy” rating in a research note on Wednesday, November 4th. BMO Capital Markets assumed coverage on Skyworks Solutions in a research note on Friday, August 21st. They issued a “market perform” rating and a $70.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on Skyworks Solutions from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.94.

Skyworks Solutions Trading Down 0.1%

Skyworks Solutions stock traded down $0.09 during trading hours on Friday, reaching $89.94. The stock had a trading volume of 3,196,646 shares, compared to its average volume of 4,563,754. The company has a fifty day simple moving average of $83.93 and a 200-day simple moving average of $68.86. Skyworks Solutions, Inc. has a 52 week low of $51.93 and a 52 week high of $93.24. The stock has a market cap of $13.53 billion, a PE ratio of 78.90, a PEG ratio of 1.53 and a beta of 1.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 5.01 and a quick ratio of 2.48.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 3rd. The semiconductor manufacturer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.27 by $0.01. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Skyworks Solutions had a net margin of 4.35% and a return on equity of 9.70%. Analysts forecast that Skyworks Solutions, Inc. will post 4.02 EPS for the current fiscal year.

About Skyworks Solutions

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.