Retirement Systems of Alabama Decreases Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Retirement Systems of Alabama trimmed its holdings in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,698 shares of the semiconductor manufacturer’s stock after selling 695 shares during the period. Retirement Systems of Alabama’s holdings in Skyworks Solutions were worth $3,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SWKS. Innealta Capital LLC bought a new stake in Skyworks Solutions in the second quarter worth about $27,000. Rothschild Investment LLC purchased a new stake in shares of Skyworks Solutions during the 2nd quarter worth approximately $27,000. Erste Asset Management GmbH bought a new stake in shares of Skyworks Solutions in the 3rd quarter worth approximately $27,000. Investors Research Corp lifted its stake in Skyworks Solutions by 167.7% in the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 213 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares during the period. 85.43% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions Stock Performance

Shares of SWKS opened at $88.26 on Friday. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16. The company has a market cap of $14.11 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.19. The stock has a 50-day moving average price of $90.05 and a 200-day moving average price of $99.29.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. Skyworks Solutions’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 earnings per share. As a group, equities analysts forecast that Skyworks Solutions, Inc. will post 4.45 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. Skyworks Solutions’s dividend payout ratio is presently 75.68%.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Robert John Terry sold 1,821 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $90.16, for a total transaction of $164,181.36. Following the transaction, the senior vice president now directly owns 24,567 shares in the company, valued at approximately $2,214,960.72. This represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carlos S. Bori sold 10,177 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total value of $993,580.51. Following 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. Insiders have sold 22,520 shares of company stock worth $2,083,803 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SWKS. Morgan Stanley lowered their target price on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 13th. Barclays dropped their price objective on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. B. Riley reduced their target price on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Citigroup dropped their price target on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a research note on Wednesday, November 13th. Finally, Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.00.

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.