State Board of Administration of Florida Retirement System Sells 2,457 Shares of Skyworks Solutions Inc (SWKS)

State Board of Administration of Florida Retirement System trimmed its holdings in Skyworks Solutions Inc (NASDAQ:SWKS) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 240,903 shares of the semiconductor manufacturer’s stock after selling 2,457 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Skyworks Solutions were worth $16,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Hawaiian Bank raised its position in shares of Skyworks Solutions by 251.9% in the fourth quarter. First Hawaiian Bank now owns 475 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 340 shares during the last quarter. Legacy Bridge LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at about $65,000. NEXT Financial Group Inc acquired a new stake in shares of Skyworks Solutions in the third quarter valued at about $108,000. Polaris Greystone Financial Group LLC raised its position in shares of Skyworks Solutions by 4,813.3% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,474 shares of the semiconductor manufacturer’s stock valued at $134,000 after buying an additional 1,444 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Skyworks Solutions in the third quarter valued at about $159,000. Institutional investors and hedge funds own 82.26% of the company’s stock.

Shares of SWKS stock opened at $81.71 on Friday. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.21 and a beta of 0.73. Skyworks Solutions Inc has a 1-year low of $60.12 and a 1-year high of $115.98.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.12. The company had revenue of $972.00 million during the quarter, compared to analyst estimates of $974.70 million. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. Skyworks Solutions’s revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 earnings per share. As a group, equities analysts forecast that Skyworks Solutions Inc will post 6.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, February 26th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, February 25th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.93%.

Skyworks Solutions declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 15.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity dropped their price objective on shares of Skyworks Solutions from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 9th. Loop Capital dropped their price objective on shares of Skyworks Solutions to $102.00 and set a “buy” rating for the company in a report on Friday, November 9th. Needham & Company LLC dropped their price objective on shares of Skyworks Solutions to $99.00 and set a “buy” rating for the company in a report on Friday, November 9th. Craig Hallum dropped their price objective on shares of Skyworks Solutions from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, November 9th. Finally, DA Davidson dropped their price objective on shares of Skyworks Solutions to $115.00 and set a “buy” rating for the company in a report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. Skyworks Solutions has a consensus rating of “Hold” and an average price target of $93.00.

In other Skyworks Solutions news, CTO Peter L. Gammel sold 2,652 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $68.45, for a total transaction of $181,529.40. Following the completion of the transaction, the chief technology officer now owns 15,123 shares of the company’s stock, valued at $1,035,169.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David J. Aldrich sold 3,000 shares of the stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $81.05, for a total transaction of $243,150.00. Following the transaction, the director now directly owns 203,922 shares of the company’s stock, valued at approximately $16,527,878.10. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, 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 locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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