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

New York State Teachers Retirement System reduced its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,325 shares of the semiconductor manufacturer’s stock after selling 3,673 shares during the quarter. New York State Teachers Retirement System’s holdings in Skyworks Solutions were worth $7,970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SWKS. Legacy Financial Advisors Inc. grew its stake in Skyworks Solutions by 2.5% in the fourth quarter. Legacy Financial Advisors Inc. now owns 6,383 shares of the semiconductor manufacturer’s stock valued at $566,000 after purchasing an additional 156 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in Skyworks Solutions by 7.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,355 shares of the semiconductor manufacturer’s stock valued at $209,000 after purchasing an additional 165 shares during the last quarter. PAX Financial Group LLC grew its stake in Skyworks Solutions by 0.8% in the fourth quarter. PAX Financial Group LLC now owns 21,979 shares of the semiconductor manufacturer’s stock valued at $1,949,000 after purchasing an additional 168 shares during the last quarter. Albert D Mason Inc. grew its stake in Skyworks Solutions by 1.8% in the first quarter. Albert D Mason Inc. now owns 12,245 shares of the semiconductor manufacturer’s stock valued at $791,000 after purchasing an additional 215 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Skyworks Solutions by 53.2% in the fourth quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer’s stock valued at $56,000 after purchasing an additional 218 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on SWKS shares. JPMorgan Chase & Co. cut their target price on Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Barclays lifted their target price on Skyworks Solutions from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, May 8th. Stifel Nicolaus boosted their price target on Skyworks Solutions from $62.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Mizuho boosted their price target on Skyworks Solutions from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.06.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $76.49 on Friday. The business’s 50 day moving average price is $71.04 and its 200 day moving average price is $72.80. The firm has a market cap 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. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $120.86. 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) last issued its earnings results on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $953.20 million for the quarter, compared to analyst estimates of $951.50 million. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. Skyworks Solutions’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. On average, sell-side analysts expect that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $2.80 dividend on an annualized basis and a yield of 3.66%. Skyworks Solutions’s dividend payout ratio is currently 109.80%.

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.