Advisory Services Network Lowers stake in Skyworks Solutions Inc (SWKS)

Skyworks Solutions Inc (SWKS) : Advisory Services Network reduced its stake in Skyworks Solutions Inc by 15.47% during the most recent quarter end. The investment management company now holds a total of 16,099 shares of Skyworks Solutions Inc which is valued at $1,277,778 after selling 2,947 shares in Skyworks Solutions Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Skyworks Solutions Inc makes up approximately 0.24% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , First Mercantile Trust Co reduced its stake in SWKS by selling 933 shares or 3.48% in the most recent quarter. The Hedge Fund company now holds 25,870 shares of SWKS which is valued at $2,053,302. Skyworks Solutions Inc makes up approx 0.28% of First Mercantile Trust Co’s portfolio.Independent Portfolio Consultants boosted its stake in SWKS in the latest quarter, The investment management firm added 65 additional shares and now holds a total of 2,910 shares of Skyworks Solutions Inc which is valued at $226,253. Skyworks Solutions Inc makes up approx 0.07% of Independent Portfolio Consultants’s portfolio. Washington Trust Bank added SWKS to its portfolio by purchasing 26 company shares during the most recent quarter which is valued at $2,022.Eqis Capital Management reduced its stake in SWKS by selling 909 shares or 7.73% in the most recent quarter. The Hedge Fund company now holds 10,847 shares of SWKS which is valued at $843,354. Skyworks Solutions Inc makes up approx 0.05% of Eqis Capital Management’s portfolio. Harbour Capital Advisors sold out all of its stake in SWKS during the most recent quarter. The investment firm sold 2,900 shares of SWKS which is valued $225,475.

Skyworks Solutions Inc opened for trading at $79.36 and hit $79.57 on the upside on Friday, eventually ending the session at $79.37, with a gain of 0.04% or 0.03 points. The heightened volatility saw the trading volume jump to 29,85,327 shares. Company has a market cap of $14,882 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. Skyworks Solutions Inc was Upgraded by Charter Equity to ” Buy” on Oct 4, 2016. Skyworks Solutions Inc was Upgraded by CLSA to ” Outperform” on Aug 9, 2016. Shares were Reiterated by Cowen on Jul 22, 2016 to “Market Perform” and Lowered the Price Target to $ 72 from a previous price target of $76 .

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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