State Board of Administration of Florida Retirement System Sells 3,247 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

State Board of Administration of Florida Retirement System reduced its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKSGet Rating) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,569 shares of the semiconductor manufacturer’s stock after selling 3,247 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.14% of Skyworks Solutions worth $30,864,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SWKS. Laidlaw Wealth Management LLC increased its holdings in shares of Skyworks Solutions by 5.0% during the fourth quarter. Laidlaw Wealth Management LLC now owns 1,651 shares of the semiconductor manufacturer’s stock valued at $256,000 after acquiring an additional 78 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Skyworks Solutions by 4.2% during the fourth quarter. Raymond James Trust N.A. now owns 2,159 shares of the semiconductor manufacturer’s stock valued at $335,000 after acquiring an additional 87 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Skyworks Solutions by 6.9% during the first quarter. ARK Investment Management LLC now owns 1,344 shares of the semiconductor manufacturer’s stock valued at $179,000 after acquiring an additional 87 shares in the last quarter. Prestige Wealth Management Group LLC increased its holdings in shares of Skyworks Solutions by 2.6% during the fourth quarter. Prestige Wealth Management Group LLC now owns 3,602 shares of the semiconductor manufacturer’s stock valued at $559,000 after acquiring an additional 91 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Skyworks Solutions by 26.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 454 shares of the semiconductor manufacturer’s stock valued at $70,000 after acquiring an additional 96 shares in the last quarter. 72.09% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Down 0.8 %

SWKS stock opened at $112.66 on Friday. Skyworks Solutions, Inc. has a 1-year low of $88.76 and a 1-year high of $186.97. The company has a current ratio of 3.98, a quick ratio of 2.65 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $100.98 and its two-hundred day simple moving average is $117.64. The stock has a market cap of $18.13 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.07 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKSGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.39. Skyworks Solutions had a return on equity of 30.60% and a net margin of 25.98%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts expect that Skyworks Solutions, Inc. will post 9.8 EPS for the current year.

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.56. Skyworks Solutions’s dividend payout ratio is currently 27.22%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SWKS. Cowen decreased their price objective on Skyworks Solutions from $175.00 to $160.00 in a report on Wednesday, May 4th. Raymond James decreased their price target on Skyworks Solutions from $170.00 to $150.00 in a report on Friday. Piper Sandler decreased their price target on Skyworks Solutions from $190.00 to $145.00 in a report on Tuesday, May 3rd. Susquehanna decreased their price target on Skyworks Solutions from $160.00 to $135.00 in a report on Wednesday, May 4th. Finally, Susquehanna Bancshares decreased their price target on Skyworks Solutions to $120.00 in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.45.

Skyworks Solutions Company Profile

(Get Rating)

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

Further Reading

Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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