State of Alaska Department of Revenue Purchases 31,620 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Alaska Department of Revenue grew its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 173.7% during the first quarter, HoldingsChannel.com reports. The fund owned 49,828 shares of the semiconductor manufacturer’s stock after acquiring an additional 31,620 shares during the quarter. State of Alaska Department of Revenue’s holdings in Skyworks Solutions were worth $3,219,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SWKS. Principal Securities Inc. grew its position in Skyworks Solutions by 7.5% in the 4th quarter. Principal Securities Inc. now owns 2,404 shares of the semiconductor manufacturer’s stock valued at $213,000 after acquiring an additional 167 shares during the last quarter. CIBC Asset Management Inc grew its position in Skyworks Solutions by 2.4% in the 4th quarter. CIBC Asset Management Inc now owns 27,933 shares of the semiconductor manufacturer’s stock valued at $2,477,000 after acquiring an additional 660 shares during the last quarter. Handelsbanken Fonder AB grew its position in Skyworks Solutions by 60.0% in the 4th quarter. Handelsbanken Fonder AB now owns 129,780 shares of the semiconductor manufacturer’s stock valued at $11,509,000 after acquiring an additional 48,644 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in Skyworks Solutions in the 4th quarter valued at $337,000. Finally, Drum Hill Capital LLC bought a new position in Skyworks Solutions in the 4th quarter valued at $1,875,000. Institutional investors own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Thursday, May 8th. Barclays upped their target price on Skyworks Solutions from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. UBS Group lowered their target price on Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Finally, Stifel Nicolaus upped their target price on Skyworks Solutions from $62.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and a consensus target price of $78.29.

Skyworks Solutions Trading Up 0.7%

Shares of NASDAQ SWKS opened at $72.13 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84. The stock has a market capitalization of $10.83 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 1.81 and a beta of 1.16. Skyworks Solutions, Inc. has a 1-year low of $47.93 and a 1-year high of $120.86. The business has a fifty day moving average price of $67.58 and a 200 day moving average price of $73.66.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $953.20 million during the quarter, compared to analysts’ expectations of $951.50 million. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. Equities research analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions’s dividend payout ratio is currently 109.80%.

About Skyworks Solutions

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.