Meeder Asset Management Inc. Sells 106,761 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Meeder Asset Management Inc. lessened its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 78.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,491 shares of the semiconductor manufacturer’s stock after selling 106,761 shares during the period. Meeder Asset Management Inc.’s holdings in Skyworks Solutions were worth $2,527,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new position in Skyworks Solutions during the 3rd quarter valued at approximately $41,000. Cerity Partners LLC increased its stake in shares of Skyworks Solutions by 3.8% during the third quarter. Cerity Partners LLC now owns 25,817 shares of the semiconductor manufacturer’s stock valued at $2,550,000 after buying an additional 954 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Skyworks Solutions by 3.1% during the third quarter. The Manufacturers Life Insurance Company now owns 151,495 shares of the semiconductor manufacturer’s stock valued at $14,963,000 after acquiring an additional 4,527 shares in the last quarter. FMR LLC lifted its stake in Skyworks Solutions by 7.3% in the third quarter. FMR LLC now owns 2,691,637 shares of the semiconductor manufacturer’s stock worth $265,853,000 after acquiring an additional 182,130 shares during the period. Finally, Townsquare Capital LLC bought a new stake in Skyworks Solutions in the third quarter valued at $202,000. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Morgan Stanley lowered their price objective on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Argus downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Mizuho lowered Skyworks Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $62.00 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 report on Thursday, February 6th. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $83.78.

Insider Activity

In other news, CEO Philip G. Brace acquired 10,000 shares of Skyworks Solutions stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $661,300. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Skyworks Solutions Trading Down 3.3 %

Shares of NASDAQ:SWKS opened at $64.12 on Monday. Skyworks Solutions, Inc. has a 1 year low of $62.01 and a 1 year high of $120.86. The stock’s fifty day moving average price is $73.20 and its 200-day moving average price is $85.34. The company has a market cap of $10.31 billion, a P/E ratio of 19.67, a PEG ratio of 1.79 and a beta of 1.18. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. Sell-side analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 4.37%. Skyworks Solutions’s dividend payout ratio is presently 85.89%.

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.