Amalgamated Bank Trims Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Amalgamated Bank reduced its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 1.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,038 shares of the semiconductor manufacturer’s stock after selling 423 shares during the period. Amalgamated Bank’s holdings in Skyworks Solutions were worth $2,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its position in Skyworks Solutions by 40.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,715,181 shares of the semiconductor manufacturer’s stock worth $152,102,000 after purchasing an additional 495,774 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Skyworks Solutions by 18.1% in the 4th quarter. IFP Advisors Inc now owns 4,818 shares of the semiconductor manufacturer’s stock valued at $427,000 after buying an additional 737 shares during the period. Howard Capital Management Inc. grew its stake in shares of Skyworks Solutions by 2.2% in the 4th quarter. Howard Capital Management Inc. now owns 34,019 shares of the semiconductor manufacturer’s stock valued at $3,017,000 after buying an additional 745 shares during the period. TCW Group Inc. acquired a new stake in shares of Skyworks Solutions during the 4th quarter worth approximately $1,376,000. Finally, Drum Hill Capital LLC purchased a new stake in shares of Skyworks Solutions during the 4th quarter valued at approximately $1,875,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SWKS. Loop Capital began coverage on Skyworks Solutions in a research report on Monday, November 11th. They issued a “hold” rating and a $90.00 target price on the stock. Argus downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. B. Riley cut shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $110.00 to $65.00 in a research report on Thursday, February 6th. Morgan Stanley dropped their price target on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Finally, Stifel Nicolaus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $62.00 in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.78.

Skyworks Solutions Price Performance

Shares of SWKS opened at $66.66 on Friday. Skyworks Solutions, Inc. has a twelve month low of $62.01 and a twelve month high of $120.86. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.79 and a beta of 1.14. The firm’s fifty day simple moving average is $82.15 and its 200-day simple moving average is $90.66.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share 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 forecast that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 4.20%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 85.89%.

Insiders Place Their Bets

In other news, CEO Philip G. Brace purchased 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.