Public Sector Pension Investment Board Trims Stake in Skyworks Solutions Inc (NASDAQ:SWKS)

Public Sector Pension Investment Board reduced its position in Skyworks Solutions Inc (NASDAQ:SWKS) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 29,672 shares of the semiconductor manufacturer’s stock after selling 3,790 shares during the period. Public Sector Pension Investment Board’s holdings in Skyworks Solutions were worth $3,587,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Skyworks Solutions by 39.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,110,017 shares of the semiconductor manufacturer’s stock valued at $255,060,000 after acquiring an additional 595,282 shares in the last quarter. Earnest Partners LLC increased its holdings in Skyworks Solutions by 607,282.8% in the fourth quarter. Earnest Partners LLC now owns 528,423 shares of the semiconductor manufacturer’s stock valued at $63,876,000 after buying an additional 528,336 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Skyworks Solutions in the fourth quarter valued at $47,341,000. Argent Capital Management LLC purchased a new position in Skyworks Solutions in the fourth quarter valued at $40,337,000. Finally, State Street Corp increased its holdings in Skyworks Solutions by 3.1% in the third quarter. State Street Corp now owns 7,881,357 shares of the semiconductor manufacturer’s stock valued at $624,598,000 after buying an additional 239,639 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors.

In other Skyworks Solutions news, CEO Liam Griffin sold 11,922 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $117.88, for a total transaction of $1,405,365.36. Following the completion of the transaction, the chief executive officer now owns 76,459 shares in the company, valued at approximately $9,012,986.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Aldrich sold 7,560 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $120.01, for a total transaction of $907,275.60. Following the transaction, the director now owns 155,592 shares of the company’s stock, valued at approximately $18,672,595.92. The disclosure for this sale can be found here. Insiders have sold a total of 20,482 shares of company stock valued at $2,436,651 in the last quarter. 0.64% of the stock is currently owned by company insiders.

NASDAQ SWKS traded up $7.63 on Thursday, hitting $92.97. 389,104 shares of the stock were exchanged, compared to its average volume of 3,710,961. The company has a quick ratio of 5.23, a current ratio of 7.04 and a debt-to-equity ratio of 0.04. Skyworks Solutions Inc has a fifty-two week low of $66.29 and a fifty-two week high of $128.48. The company has a market cap of $14.85 billion, a PE ratio of 19.45, a PEG ratio of 1.32 and a beta of 1.25. The company has a 50-day moving average price of $100.26 and a 200-day moving average price of $100.68.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, January 23rd. The semiconductor manufacturer reported $1.68 EPS for the quarter, topping the consensus estimate of $1.52 by $0.16. Skyworks Solutions had a net margin of 25.02% and a return on equity of 23.03%. The company had revenue of $896.10 million during the quarter, compared to analysts’ expectations of $881.80 million. During the same quarter in the previous year, the business posted $1.83 EPS. The firm’s revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts predict that Skyworks Solutions Inc will post 5.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, February 10th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 30.82%.

Several analysts have recently issued reports on the stock. Argus upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Thursday, March 12th. Wells Fargo & Co reissued a “buy” rating on shares of Skyworks Solutions in a research note on Monday, March 9th. Robert W. Baird reduced their price target on shares of Skyworks Solutions from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Citigroup boosted their price target on shares of Skyworks Solutions from $125.00 to $127.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Craig Hallum reduced their price target on shares of Skyworks Solutions from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $116.29.

Skyworks Solutions 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.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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

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