California Public Employees Retirement System Sells 12,124 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

California Public Employees Retirement System reduced its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 309,028 shares of the semiconductor manufacturer’s stock after selling 12,124 shares during the quarter. California Public Employees Retirement System owned 0.19% of Skyworks Solutions worth $34,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Koshinski Asset Management Inc. lifted its holdings in Skyworks Solutions by 5.7% in the third quarter. Koshinski Asset Management Inc. now owns 4,666 shares of the semiconductor manufacturer’s stock valued at $460,000 after acquiring an additional 251 shares during the period. Czech National Bank lifted its holdings in Skyworks Solutions by 47.9% in the third quarter. Czech National Bank now owns 27,858 shares of the semiconductor manufacturer’s stock valued at $2,747,000 after acquiring an additional 9,018 shares during the period. Handelsbanken Fonder AB lifted its holdings in Skyworks Solutions by 1.2% in the third quarter. Handelsbanken Fonder AB now owns 84,103 shares of the semiconductor manufacturer’s stock valued at $8,292,000 after acquiring an additional 969 shares during the period. Cavalier Investments LLC lifted its holdings in Skyworks Solutions by 3.7% in the third quarter. Cavalier Investments LLC now owns 5,876 shares of the semiconductor manufacturer’s stock valued at $579,000 after acquiring an additional 210 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Skyworks Solutions by 40.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 22,300 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after acquiring an additional 6,400 shares during the period. 85.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on SWKS shares. B. Riley increased their target price on Skyworks Solutions from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. StockNews.com downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of Skyworks Solutions in a research note on Thursday, January 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Skyworks Solutions in a research note on Wednesday, January 31st. Finally, KeyCorp downgraded Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $115.10.

Skyworks Solutions Stock Performance

NASDAQ SWKS opened at $104.30 on Friday. The stock has a market capitalization of $16.71 billion, a PE ratio of 18.49, a P/E/G ratio of 1.91 and a beta of 1.37. The business has a 50 day simple moving average of $104.07 and a two-hundred day simple moving average of $101.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.02 and a quick ratio of 3.51. 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 results 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. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. On average, research analysts predict that Skyworks Solutions, Inc. will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, February 16th. Skyworks Solutions’s payout ratio is 48.23%.

Skyworks Solutions Company 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.