Kentucky Retirement Systems Sells 964 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Kentucky Retirement Systems trimmed its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 8.0% in the third quarter, Holdings Channel.com reports. The firm owned 11,127 shares of the semiconductor manufacturer’s stock after selling 964 shares during the quarter. Kentucky Retirement Systems’ holdings in Skyworks Solutions were worth $1,099,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SWKS. Innealta Capital LLC bought a new stake in Skyworks Solutions during the 2nd quarter worth approximately $27,000. Rothschild Investment LLC bought a new stake in Skyworks Solutions during the 2nd quarter worth approximately $27,000. Blue Trust Inc. boosted its position in Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 149 shares during the last quarter. Matrix Trust Co acquired a new position in Skyworks Solutions during the 3rd quarter worth approximately $39,000. Finally, Valley Wealth Managers Inc. acquired a new position in Skyworks Solutions during the 3rd quarter worth approximately $40,000. 85.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Rosenblatt Securities upped their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price objective on Skyworks Solutions from $112.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America increased their price objective on Skyworks Solutions from $95.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, July 31st. Loop Capital began coverage on Skyworks Solutions in a report on Monday, November 11th. They issued a “hold” rating and a $90.00 price objective for the company. Finally, Citigroup cut their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Down 0.5 %

Shares of NASDAQ SWKS opened at $83.56 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.19 and a current ratio of 3.01. Skyworks Solutions, Inc. has a 52 week low of $82.13 and a 52 week high of $120.86. The stock has a market capitalization of $13.35 billion, a P/E ratio of 22.58, a PEG ratio of 1.53 and a beta of 1.21. The stock’s fifty day moving average is $94.50 and its 200 day moving average is $100.13.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted $1.95 earnings per share. The business’s revenue for the quarter was down 15.9% on a year-over-year basis. Sell-side analysts forecast that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions’s payout ratio is 75.68%.

Insider Activity

In related news, SVP Robert John Terry sold 10,522 shares of Skyworks Solutions stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.01, for a total value of $926,041.22. Following the transaction, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at $1,404,639.60. The trade was a 39.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carlos S. Bori sold 10,177 shares of Skyworks Solutions stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $97.63, for a total value of $993,580.51. Following the completion of the transaction, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This represents a 27.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,841 shares of company stock valued at $3,034,265. 0.35% of the stock is currently owned by corporate insiders.

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.