State of Alaska Department of Revenue Cuts Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Alaska Department of Revenue cut its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 42.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,208 shares of the semiconductor manufacturer’s stock after selling 13,470 shares during the quarter. State of Alaska Department of Revenue’s holdings in Skyworks Solutions were worth $1,614,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Brookstone Capital Management purchased a new position in shares of Skyworks Solutions during the third quarter valued at approximately $231,000. CWM LLC lifted its holdings in shares of Skyworks Solutions by 20.2% during the 3rd quarter. CWM LLC now owns 8,195 shares of the semiconductor manufacturer’s stock valued at $809,000 after buying an additional 1,375 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Skyworks Solutions in the 3rd quarter worth $69,000. Valeo Financial Advisors LLC grew its holdings in shares of Skyworks Solutions by 30.8% in the third quarter. Valeo Financial Advisors LLC now owns 2,512 shares of the semiconductor manufacturer’s stock worth $248,000 after acquiring an additional 591 shares during the period. Finally, Creative Planning increased its position in Skyworks Solutions by 2.4% during the third quarter. Creative Planning now owns 148,142 shares of the semiconductor manufacturer’s stock valued at $14,632,000 after acquiring an additional 3,540 shares during the last quarter. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Skyworks Solutions Price Performance

NASDAQ:SWKS opened at $65.23 on Wednesday. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.45 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.24. The business has a 50 day simple moving average of $88.01 and a 200-day simple moving average of $94.17. Skyworks Solutions, Inc. has a 1 year low of $62.01 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. Equities analysts forecast that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, February 24th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $2.80 annualized dividend and a yield of 4.29%. Skyworks Solutions’s payout ratio is 85.89%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America dropped their target price on Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating on the stock in a research report on Thursday, February 6th. B. Riley downgraded shares of Skyworks Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $65.00 in a report on Thursday, February 6th. Craig Hallum reduced their target price on shares of Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lowered Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $62.00 in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.78.

About Skyworks Solutions

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.