Lazard Asset Management LLC Has $12.48 Million Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Lazard Asset Management LLC lessened its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 90.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 115,224 shares of the semiconductor manufacturer’s stock after selling 1,074,807 shares during the period. Lazard Asset Management LLC’s holdings in Skyworks Solutions were worth $12,481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SWKS. Duality Advisers LP bought a new stake in Skyworks Solutions in the first quarter valued at about $1,517,000. State of Tennessee Treasury Department boosted its holdings in Skyworks Solutions by 152.8% during the fourth quarter. State of Tennessee Treasury Department now owns 118,960 shares of the semiconductor manufacturer’s stock worth $13,373,000 after buying an additional 71,899 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Skyworks Solutions during the 4th quarter worth about $10,053,000. Brookstone Capital Management bought a new stake in shares of Skyworks Solutions in the 1st quarter valued at about $262,000. Finally, FIL Ltd raised its position in shares of Skyworks Solutions by 2.4% in the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock valued at $308,724,000 after acquiring an additional 64,389 shares during the period. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS traded up $3.50 during trading on Friday, reaching $116.18. 2,207,493 shares of the stock were exchanged, compared to its average volume of 2,520,524. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86. The stock has a 50-day moving average price of $103.59 and a 200-day moving average price of $102.98. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.64 billion, a PE ratio of 21.84, a PEG ratio of 5.53 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.08. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. Research analysts expect that Skyworks Solutions, Inc. will post 5.14 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Monday, May 20th. Skyworks Solutions’s dividend payout ratio is currently 51.13%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SWKS shares. Benchmark cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. UBS Group decreased their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. KeyCorp downgraded Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. B. Riley raised Skyworks Solutions from a “neutral” rating to a “buy” rating and boosted their target price for the company from $96.00 to $130.00 in a research note on Thursday, June 20th. Finally, Rosenblatt Securities dropped their price target on Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Skyworks Solutions currently has an average rating of “Hold” and a consensus target price of $107.14.

Insiders Place Their Bets

In related news, CEO Liam Griffin purchased 11,142 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the transaction, the chief executive officer now owns 104,153 shares of the company’s stock, valued at $9,373,770. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now owns 60,881 shares in the company, valued at approximately $5,495,727.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Liam Griffin acquired 11,142 shares of Skyworks Solutions stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the purchase, the chief executive officer now owns 104,153 shares in the company, valued at approximately $9,373,770. The disclosure for this purchase can be found here. Insiders have sold a total of 26,337 shares of company stock worth $2,399,797 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

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.