New York State Common Retirement Fund Sells 16,013 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

New York State Common Retirement Fund lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,442 shares of the semiconductor manufacturer’s stock after selling 16,013 shares during the period. New York State Common Retirement Fund owned 0.08% of Skyworks Solutions worth $14,664,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. AXQ Capital LP bought a new position in Skyworks Solutions during the third quarter worth about $789,000. Highland Capital Management LLC lifted its position in shares of Skyworks Solutions by 91.4% in the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock valued at $4,785,000 after buying an additional 20,330 shares during the last quarter. LSV Asset Management boosted its stake in shares of Skyworks Solutions by 24.2% during the 3rd quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock worth $171,675,000 after acquiring an additional 338,820 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Skyworks Solutions by 10,450.2% during the 4th quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock worth $9,500,000 after acquiring an additional 83,706 shares during the last quarter. Finally, abrdn plc raised its stake in Skyworks Solutions by 50.0% in the 4th quarter. abrdn plc now owns 90,031 shares of the semiconductor manufacturer’s stock valued at $10,121,000 after acquiring an additional 30,022 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. B. Riley lifted their price objective on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Skyworks Solutions in a research note on Wednesday, January 31st. StockNews.com downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. TD Cowen upped their target price on Skyworks Solutions from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $90.00 price target on shares of Skyworks Solutions in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Skyworks Solutions has an average rating of “Hold” and an average price target of $115.10.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $107.86 on Tuesday. The company has a current ratio of 5.02, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. The company has a market cap of $17.28 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The company has a 50 day moving average of $104.15 and a 200-day moving average of $101.91. Skyworks Solutions, Inc. has a 1-year low of $85.06 and a 1-year high of $115.69.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $2.33 earnings per share. Skyworks Solutions’s revenue was down 9.6% compared to the same quarter last year. As a group, equities research analysts forecast that Skyworks Solutions, Inc. will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Profile

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.