AIA Group Ltd Decreases Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

AIA Group Ltd lowered its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 35.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,468 shares of the semiconductor manufacturer’s stock after selling 3,052 shares during the quarter. AIA Group Ltd’s holdings in Skyworks Solutions were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Texas Permanent School Fund Corp grew its position in Skyworks Solutions by 0.6% in the first quarter. Texas Permanent School Fund Corp now owns 33,122 shares of the semiconductor manufacturer’s stock worth $3,588,000 after acquiring an additional 210 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Skyworks Solutions in the 1st quarter worth approximately $1,517,000. Empirical Finance LLC increased its position in shares of Skyworks Solutions by 3.4% during the 1st quarter. Empirical Finance LLC now owns 5,884 shares of the semiconductor manufacturer’s stock valued at $637,000 after purchasing an additional 192 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Skyworks Solutions by 8.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,652 shares of the semiconductor manufacturer’s stock valued at $937,000 after buying an additional 658 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Skyworks Solutions in the first quarter worth $2,405,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS opened at $89.16 on Friday. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 4.10 and a beta of 1.21. The firm has a 50 day moving average of $96.90 and a 200 day moving average of $100.83. Skyworks Solutions, Inc. has a 52 week low of $86.21 and a 52 week high of $120.86.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SWKS. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, July 31st. Bank of America increased their price objective on shares of Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 31st. B. Riley dropped their target price on Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. TD Cowen upped their target price on Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Susquehanna decreased their price target on Skyworks Solutions from $125.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Skyworks Solutions presently has an average rating of “Hold” and an average price target of $110.20.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of Skyworks Solutions stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $107.47, for a total value of $198,067.21. Following the transaction, the senior vice president now owns 17,455 shares in the company, valued at $1,875,888.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Skyworks Solutions news, SVP Reza Kasnavi sold 1,843 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $107.47, for a total value of $198,067.21. Following the completion of the sale, the senior vice president now directly owns 17,455 shares in the company, valued at $1,875,888.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at $2,638,548.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,341 shares of company stock worth $2,142,110 in the last three months. 0.34% of the stock is owned by insiders.

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.