Resona Asset Management Co. Ltd. Invests $3.99 Million in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Resona Asset Management Co. Ltd. bought a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the 4th quarter, Holdings Channel reports. The firm bought 44,888 shares of the semiconductor manufacturer’s stock, valued at approximately $3,990,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp grew its position in shares of 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 lifted its stake in Skyworks Solutions by 246.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 18,204 shares of the semiconductor manufacturer’s stock valued at $1,798,000 after purchasing an additional 12,955 shares during the last quarter. MML Investors Services LLC grew its holdings in Skyworks Solutions by 0.9% during the third 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 during the period. Y Intercept Hong Kong Ltd acquired a new position in Skyworks Solutions during the third quarter worth approximately $2,452,000. Finally, Nomura Asset Management Co. Ltd. increased its position in 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 buying an additional 4,019 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stifel Nicolaus cut Skyworks Solutions from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. Argus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $80.00 price objective (down from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. Barclays cut their target price on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.78.

Skyworks Solutions Trading Down 7.8 %

Shares of Skyworks Solutions stock opened at $49.20 on Wednesday. The firm’s 50-day moving average price is $67.65 and its two-hundred day moving average price is $83.10. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.79 and a beta of 1.21. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $47.93 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last announced 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 net margin of 13.02% and a return on equity of 12.60%. On average, analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date was Monday, February 24th. Skyworks Solutions’s dividend payout ratio is presently 85.89%.

Insiders Place Their Bets

In related news, CEO Philip G. Brace acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was acquired at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at $661,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

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.