State of Tennessee Department of Treasury Cuts Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Tennessee Department of Treasury lessened its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,860 shares of the semiconductor manufacturer's stock after selling 5,007 shares during the quarter. State of Tennessee Department of Treasury's holdings in Skyworks Solutions were worth $3,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Skyworks Solutions during the fourth quarter worth approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Skyworks Solutions in the 4th quarter valued at $29,000. Picton Mahoney Asset Management bought a new position in shares of Skyworks Solutions in the 4th quarter worth $33,000. Manchester Capital Management LLC boosted its position in Skyworks Solutions by 325.2% during the fourth quarter. Manchester Capital Management LLC now owns 557 shares of the semiconductor manufacturer's stock valued at $49,000 after purchasing an additional 426 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in Skyworks Solutions in the fourth quarter worth about $56,000. 85.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Skyworks Solutions from $92.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus lowered shares of Skyworks Solutions from a "buy" rating to a "hold" rating and dropped their price objective for the company from $105.00 to $62.00 in a report on Thursday, February 6th. Piper Sandler lowered their price target on Skyworks Solutions from $85.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, February 6th. Citigroup increased their price target on shares of Skyworks Solutions from $72.00 to $84.00 and gave the stock a "sell" rating in a report on Friday, January 10th. Finally, Benchmark restated a "hold" rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Skyworks Solutions presently has a consensus rating of "Hold" and an average price target of $80.44.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Philip G. Brace acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average cost of $66.13 per share, with a total value of $661,300.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company's stock, valued at $661,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.28% of the company's stock.

Skyworks Solutions Price Performance

SWKS stock traded up $2.68 during midday trading on Wednesday, reaching $64.28. The stock had a trading volume of 3,821,789 shares, compared to its average volume of 2,851,413. Skyworks Solutions, Inc. has a 52-week low of $47.93 and a 52-week high of $120.86. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.79 and a beta of 1.21. The company has a current ratio of 5.94, a quick ratio of 4.73 and a debt-to-equity ratio of 0.16. The company's fifty day simple moving average is $63.05 and its 200 day simple moving average is $78.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. As a group, sell-side analysts predict that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.80 annualized dividend and a yield of 4.36%. Skyworks Solutions's dividend payout ratio (DPR) is 85.89%.

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.