State Board of Administration of Florida Retirement System Reduces Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State Board of Administration of Florida Retirement System cut its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKSGet Rating) by 1.4% in the 1st quarter, HoldingsChannel reports. The fund 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’s holdings in Skyworks Solutions were worth $30,864,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. AIA Group Ltd boosted its holdings in Skyworks Solutions by 55.3% during the 1st quarter. AIA Group Ltd now owns 3,955 shares of the semiconductor manufacturer’s stock valued at $527,000 after acquiring an additional 1,408 shares during the period. QCM Cayman Ltd. purchased a new stake in Skyworks Solutions in the 1st quarter worth approximately $215,000. IndexIQ Advisors LLC lifted its holdings in Skyworks Solutions by 9.9% in the 1st quarter. IndexIQ Advisors LLC now owns 3,581 shares of the semiconductor manufacturer’s stock worth $478,000 after buying an additional 322 shares during the period. Valley National Advisers Inc. lifted its holdings in Skyworks Solutions by 167.4% in the 1st quarter. Valley National Advisers Inc. now owns 12,312 shares of the semiconductor manufacturer’s stock worth $1,641,000 after buying an additional 7,707 shares during the period. Finally, KBC Group NV lifted its holdings in Skyworks Solutions by 37.3% in the 1st quarter. KBC Group NV now owns 19,769 shares of the semiconductor manufacturer’s stock worth $2,635,000 after buying an additional 5,367 shares during the period. 72.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SWKS shares. KeyCorp dropped their price objective on Skyworks Solutions from $160.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Benchmark dropped their price objective on Skyworks Solutions from $190.00 to $155.00 in a report on Wednesday, May 4th. Bank of America cut Skyworks Solutions from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $130.00 to $105.00 in a report on Wednesday, June 29th. Raymond James dropped their price objective on Skyworks Solutions from $170.00 to $150.00 in a report on Friday. Finally, Cowen lowered their target price on Skyworks Solutions from $175.00 to $160.00 in a research note on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $142.45.

Skyworks Solutions Stock Down 0.8 %

SWKS stock opened at $112.66 on Friday. Skyworks Solutions, Inc. has a twelve month low of $88.76 and a twelve month high of $186.97. The company has a quick ratio of 2.65, a current ratio of 3.98 and a debt-to-equity ratio of 0.42. The firm has a market cap of $18.13 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. The business has a 50 day moving average of $100.98 and a 200 day moving average of $117.64.

Skyworks Solutions (NASDAQ:SWKSGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The semiconductor manufacturer reported $2.44 earnings per share 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 company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company earned $1.96 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts forecast that Skyworks Solutions, Inc. will post 9.8 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be issued a $0.62 dividend. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.56. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.20%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 27.22%.

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

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

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