New York State Teachers Retirement System Sells 3,673 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

New York State Teachers Retirement System trimmed its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,325 shares of the semiconductor manufacturer's stock after selling 3,673 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Skyworks Solutions worth $7,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. raised its position in shares of Skyworks Solutions by 66.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 3,953 shares of the semiconductor manufacturer's stock worth $351,000 after acquiring an additional 1,578 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Skyworks Solutions by 43.6% in the fourth quarter. Jones Financial Companies Lllp now owns 10,351 shares of the semiconductor manufacturer's stock valued at $918,000 after purchasing an additional 3,144 shares during the period. SBI Securities Co. Ltd. purchased a new position in Skyworks Solutions in the fourth quarter worth approximately $29,000. State of Michigan Retirement System increased its position in shares of Skyworks Solutions by 0.9% during the 4th quarter. State of Michigan Retirement System now owns 56,283 shares of the semiconductor manufacturer's stock worth $4,991,000 after purchasing an additional 500 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Skyworks Solutions by 0.9% during the 4th quarter. Victory Capital Management Inc. now owns 304,486 shares of the semiconductor manufacturer's stock worth $27,002,000 after purchasing an additional 2,701 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Skyworks Solutions Stock Performance

SWKS stock traded down $1.69 during mid-day trading on Friday, reaching $76.49. The company had a trading volume of 1,831,003 shares, compared to its average volume of 3,039,952. The stock's 50-day simple moving average is $71.04 and its two-hundred day simple moving average is $72.80. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $120.86. The stock has a market capitalization of $11.48 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.97 and a beta of 1.17. The company has a quick ratio of 3.84, a current ratio of 4.95 and a debt-to-equity ratio of 0.17.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The firm had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. Skyworks Solutions's revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. Research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.66%. Skyworks Solutions's dividend payout ratio is currently 109.80%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SWKS. Needham & Company LLC reiterated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Barclays raised their price objective on shares of Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. UBS Group decreased their target price on Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Mizuho boosted their target price on shares of Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Skyworks Solutions has a consensus rating of "Hold" and a consensus price target of $79.06.

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.