Cypress Funds buys $23.7 Million stake in Skyworks Solutions Inc (SWKS)

Skyworks Solutions Inc (SWKS) : Cypress Funds scooped up 115,000 additional shares in Skyworks Solutions Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 390,000 shares of Skyworks Solutions Inc which is valued at $23.7 Million.Skyworks Solutions Inc makes up approximately 6.82% of Cypress Funds’s portfolio.

Other Hedge Funds, Including , New Mexico Educational Retirement Board boosted its stake in SWKS in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 21,200 shares of Skyworks Solutions Inc which is valued at $1.3 Million. Skyworks Solutions Inc makes up approx 0.06% of New Mexico Educational Retirement Board’s portfolio.Comerica Bank reduced its stake in SWKS by selling 8,198 shares or 8.24% in the most recent quarter. The Hedge Fund company now holds 91,275 shares of SWKS which is valued at $5.5 Million. Skyworks Solutions Inc makes up approx 0.05% of Comerica Bank’s portfolio.Schwab Charles Investment Management Inc boosted its stake in SWKS in the latest quarter, The investment management firm added 32,730 additional shares and now holds a total of 543,147 shares of Skyworks Solutions Inc which is valued at $35.1 Million. Skyworks Solutions Inc makes up approx 0.05% of Schwab Charles Investment Management Inc’s portfolio.Emerald Mutual Fund Advisers Trust boosted its stake in SWKS in the latest quarter, The investment management firm added 532 additional shares and now holds a total of 3,580 shares of Skyworks Solutions Inc which is valued at $239,216. Skyworks Solutions Inc makes up approx 0.01% of Emerald Mutual Fund Advisers Trust’s portfolio.

Skyworks Solutions Inc opened for trading at $63.47 and hit $64.8 on the upside on Friday, eventually ending the session at $64.56, with a gain of 2.80% or 1.76 points. The heightened volatility saw the trading volume jump to 22,37,159 shares. Company has a market cap of $12,282 M.

On the company’s financial health, Skyworks Solutions Inc reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.24. The company had revenue of $775.10 million for the quarter, compared to analysts expectations of $775.49 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on Skyworks Solutions Inc. Shares were Reiterated by Mizuho on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 99 from a previous price target of $105 .Shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform” and Lowered the Price Target to $ 76 from a previous price target of $78 .Shares were Reiterated by Topeka Capital Markets on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 85 from a previous price target of $90 .

Skyworks Solutions Inc. is engaged in the production of analog semiconductors. The Company supports automotive broadband wireless infrastructure energy management Global Positioning System (GPS) industrial medical military wireless networking smartphone and tablet applications. The Company’s portfolio includes amplifiers attenuators circulators demodulators detectors diodes directional couplers front-end modules hybrids infrastructure radio frequency (RF) subsystems isolators lighting and display solutions mixers modulators optocouplers optoisolators phase shifters phase locked loops (PLLs) synthesizers voltage controlled oscillator power dividers (VCOs) power dividers/combiners power management devices receivers switches and technical ceramics. The Company’s products include Front-end Modules and Amplifiers Wireless Infrastructure Power Management Precision Analog Components WiFi Connectivity and Smart Energy.

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