New England Investment Retirement Group Lowers stake in Skyworks Solutions Inc (SWKS)

Skyworks Solutions Inc (SWKS) : New England Investment Retirement Group reduced its stake in Skyworks Solutions Inc by 3.33% during the most recent quarter end. The investment management company now holds a total of 16,662 shares of Skyworks Solutions Inc which is valued at $1,072,866 after selling 574 shares in Skyworks Solutions Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Skyworks Solutions Inc makes up approximately 0.62% of New England Investment Retirement Group’s portfolio.

Other Hedge Funds, Including , Wright Investors Service Inc sold out all of its stake in SWKS during the most recent quarter. The investment firm sold 21,680 shares of SWKS which is valued $1,395,975. Cypress Capital Management (wy) sold out all of its stake in SWKS during the most recent quarter. The investment firm sold 12,360 shares of SWKS which is valued $816,007.Essex Investment Management Co reduced its stake in SWKS by selling 1,422 shares or 15.73% in the most recent quarter. The Hedge Fund company now holds 7,617 shares of SWKS which is valued at $506,302. Skyworks Solutions Inc makes up approx 0.08% of Essex Investment Management Co’s portfolio.Martin Investment Management reduced its stake in SWKS by selling 23,982 shares or 10.24% in the most recent quarter. The Hedge Fund company now holds 210,297 shares of SWKS which is valued at $13,629,349. Skyworks Solutions Inc makes up approx 2.20% of Martin Investment Management’s portfolio.

Skyworks Solutions Inc opened for trading at $64.45 and hit $65.26 on the upside on Thursday, eventually ending the session at $65.16, with a gain of 1.20% or 0.77 points. The heightened volatility saw the trading volume jump to 30,69,764 shares. Company has a market cap of $12,396 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 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 was Downgraded by Pacific Crest to ” Sector Weight” on Jul 5, 2016. Mizuho Downgraded Skyworks Solutions Inc on Jul 1, 2016 to ” Neutral”, Price Target of the shares are set at $68.

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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