State of Alaska Department of Revenue Lowers Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Alaska Department of Revenue lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKSGet Rating) by 21.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,812 shares of the semiconductor manufacturer’s stock after selling 16,905 shares during the period. State of Alaska Department of Revenue’s holdings in Skyworks Solutions were worth $5,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SWKS. Pittenger & Anderson Inc. lifted its holdings in shares of Skyworks Solutions by 1,750.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 185 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 175 shares during the last quarter. IronBridge Private Wealth LLC purchased a new stake in shares of Skyworks Solutions during the 4th quarter valued at $32,000. Financial Management Professionals Inc. lifted its holdings in shares of Skyworks Solutions by 1,845.5% during the 1st quarter. Financial Management Professionals Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 203 shares during the last quarter. Bank of New Hampshire purchased a new stake in shares of Skyworks Solutions during the 1st quarter valued at $30,000. Finally, Holloway Wealth Management LLC lifted its holdings in shares of Skyworks Solutions by 119.0% during the 1st quarter. Holloway Wealth Management LLC now owns 230 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.

Analyst Upgrades and Downgrades

SWKS has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on Skyworks Solutions from $160.00 to $130.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Exane BNP Paribas initiated coverage on Skyworks Solutions in a report on Tuesday, September 13th. They set an “outperform” rating for the company. Susquehanna Bancshares cut their target price on Skyworks Solutions to $120.00 in a research report on Monday, July 25th. Cowen set a $132.00 target price on Skyworks Solutions in a research report on Tuesday, July 19th. Finally, Raymond James cut their target price on Skyworks Solutions from $170.00 to $150.00 in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Skyworks Solutions presently has a consensus rating of “Hold” and an average target price of $140.29.

Insider Activity

In other news, SVP Karilee A. Durham sold 5,858 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $112.26, for a total transaction of $657,619.08. Following the sale, the senior vice president now directly owns 10,130 shares in the company, valued at approximately $1,137,193.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Skyworks Solutions Price Performance

Shares of SWKS opened at $98.14 on Wednesday. The business’s 50-day moving average is $104.70 and its two-hundred day moving average is $109.59. The company has a market capitalization of $15.75 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.47 and a current ratio of 2.37. Skyworks Solutions, Inc. has a fifty-two week low of $88.76 and a fifty-two week high of $175.44.

Skyworks Solutions (NASDAQ:SWKSGet Rating) last posted its 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 30.43% and a net margin of 24.11%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the firm earned $1.96 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts predict that Skyworks Solutions, Inc. will post 9.95 earnings per share for the current year.

Skyworks Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This is a boost 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 2.53%. Skyworks Solutions’s dividend payout ratio (DPR) is 31.51%.

Skyworks Solutions 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.

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

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