State Board of Administration of Florida Retirement System lessened its holdings in Skyworks Solutions Inc (NASDAQ:SWKS) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 243,360 shares of the semiconductor manufacturer’s stock after selling 5,171 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Skyworks Solutions were worth $22,075,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of Skyworks Solutions in the second quarter worth $101,000. Quad Cities Investment Group LLC acquired a new stake in shares of Skyworks Solutions in the second quarter worth $102,000. NEXT Financial Group Inc acquired a new stake in shares of Skyworks Solutions in the third quarter worth $108,000. Polaris Greystone Financial Group LLC boosted its position in Skyworks Solutions by 4,813.3% during the third quarter. Polaris Greystone Financial Group LLC now owns 1,474 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Peak Capital Management LLC acquired a new stake in Skyworks Solutions during the second quarter valued at $136,000. 80.71% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:SWKS opened at $83.40 on Friday. Skyworks Solutions Inc has a fifty-two week low of $79.27 and a fifty-two week high of $115.98. The stock has a market capitalization of $14.79 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.82 and a beta of 0.64.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.02. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Skyworks Solutions Inc will post 6.61 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. BidaskClub raised Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Barclays reduced their price objective on Skyworks Solutions from $120.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, October 23rd. Zacks Investment Research cut Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Morgan Stanley reduced their price objective on Skyworks Solutions from $80.00 to $79.00 and set an “underweight” rating for the company in a research report on Wednesday, October 3rd. Finally, ValuEngine raised Skyworks Solutions from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $113.58.
In other news, Director David J. Aldrich sold 10,000 shares of Skyworks Solutions stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $91.30, for a total value of $913,000.00. Following the transaction, the director now directly owns 152,252 shares in the company, valued at $13,900,607.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David J. Aldrich sold 3,000 shares of Skyworks Solutions stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $88.78, for a total value of $266,340.00. Following the completion of the transaction, the director now owns 145,252 shares in the company, valued at $12,895,472.56. The disclosure for this sale can be found here. Insiders sold 34,500 shares of company stock valued at $3,126,050 in the last ninety days. Insiders own 0.47% of the company’s stock.
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About Skyworks Solutions
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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