Retirement Systems of Alabama Has $3.43 Million Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Retirement Systems of Alabama lessened its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Several other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions in the second quarter valued at approximately $27,000. Rothschild Investment LLC bought a new stake in Skyworks Solutions during the 2nd quarter worth approximately $27,000. Erste Asset Management GmbH acquired a new position in Skyworks Solutions in the 3rd quarter valued at approximately $27,000. Investors Research Corp raised its stake in shares of Skyworks Solutions by 167.7% during the third quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 213 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares during the period. 85.43% of the stock is currently owned by institutional investors.

Insider Activity at Skyworks Solutions

In related news, SVP Carlos S. Bori sold 10,177 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction 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. The trade was a 27.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert John Terry sold 1,821 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $90.16, for a total transaction of $164,181.36. Following the completion of the sale, the senior vice president now owns 24,567 shares of the company’s stock, valued at approximately $2,214,960.72. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,520 shares of company stock valued at $2,083,803. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SWKS. JPMorgan Chase & Co. lowered their target price on Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Citigroup lowered their price objective on Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley reduced their target price on Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler lowered their price target on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Mizuho reduced their price objective on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.00.

Skyworks Solutions Stock Performance

SWKS opened at $88.26 on Friday. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.01 and a beta of 1.19. The company’s fifty day moving average price is $90.05 and its two-hundred day moving average price is $99.29. The company has a current ratio of 5.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.16.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. The company had revenue of $1.03 billion for 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%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.95 EPS. On average, analysts expect that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.17%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 75.68%.

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.