State Board of Administration of Florida Retirement System Sells 12,980 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

State Board of Administration of Florida Retirement System lowered its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKSFree Report) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 171,796 shares of the semiconductor manufacturer’s stock after selling 12,980 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.11% of Skyworks Solutions worth $16,937,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SWKS. True Wealth Design LLC acquired a new position in Skyworks Solutions in the fourth quarter worth $26,000. Fortis Capital Advisors LLC acquired a new position in shares of Skyworks Solutions during the fourth quarter valued at $27,000. Tyler Stone Wealth Management acquired a new position in shares of Skyworks Solutions during the second quarter valued at $29,000. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Skyworks Solutions by 98.1% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 313 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 155 shares during the period. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Skyworks Solutions during the third quarter valued at $34,000. Institutional investors and hedge funds own 81.39% of the company’s stock.

Insider Buying and Selling

In related news, SVP Reza Kasnavi sold 5,289 shares of Skyworks Solutions stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $94.04, for a total transaction of $497,377.56. Following the completion of the sale, the senior vice president now directly owns 19,078 shares of the company’s stock, valued at approximately $1,794,095.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Skyworks Solutions news, SVP Karilee A. Durham sold 3,189 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $110.00, for a total transaction of $350,790.00. Following the transaction, the senior vice president now owns 17,323 shares in the company, valued at approximately $1,905,530. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Reza Kasnavi sold 5,289 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $94.04, for a total value of $497,377.56. Following the transaction, the senior vice president now owns 19,078 shares in the company, valued at approximately $1,794,095.12. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Skyworks Solutions Stock Performance

SWKS opened at $105.05 on Monday. Skyworks Solutions, Inc. has a 12-month low of $85.06 and a 12-month high of $122.45. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.93 and a beta of 1.40. The business has a 50 day moving average of $106.42 and a 200-day moving average of $101.54. The company has a quick ratio of 3.51, a current ratio of 5.02 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKSGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. On average, equities research analysts expect that Skyworks Solutions, Inc. will post 5.71 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.72 annualized dividend and a yield of 2.59%. Skyworks Solutions’s payout ratio is currently 48.23%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SWKS. StockNews.com lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. B. Riley increased their target price on Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Mizuho increased their target price on Skyworks Solutions from $108.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 18th. TheStreet lowered Skyworks Solutions from a “b-” rating to a “c+” rating in a research note on Thursday, November 16th. Finally, TD Cowen increased their price target on Skyworks Solutions from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $115.10.

Read Our Latest Stock Analysis on SWKS

About Skyworks Solutions

(Free Report)

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.

Further Reading

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

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