Kentucky Retirement Systems Sells 964 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Kentucky Retirement Systems lowered its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,127 shares of the semiconductor manufacturer’s stock after selling 964 shares during the quarter. Kentucky Retirement Systems’ holdings in Skyworks Solutions were worth $1,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SWKS. O Shaughnessy Asset Management LLC increased its position in Skyworks Solutions by 23.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,653 shares of the semiconductor manufacturer’s stock worth $396,000 after acquiring an additional 689 shares during the period. Clearbridge Investments LLC bought a new position in Skyworks Solutions during the first quarter worth $38,688,000. Bessemer Group Inc. increased its position in Skyworks Solutions by 39.8% during the first quarter. Bessemer Group Inc. now owns 14,926 shares of the semiconductor manufacturer’s stock worth $1,617,000 after acquiring an additional 4,246 shares during the period. Lake Street Advisors Group LLC bought a new position in Skyworks Solutions during the first quarter worth $347,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Skyworks Solutions by 14.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,411 shares of the semiconductor manufacturer’s stock worth $4,594,000 after acquiring an additional 5,411 shares during the period. Institutional investors own 85.43% of the company’s stock.

Insider Buying and Selling at Skyworks Solutions

In other news, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares of the company’s stock, valued at $3,793,589.91. This represents a 20.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert John Terry sold 10,522 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $88.01, for a total value of $926,041.22. Following the completion of the sale, the senior vice president now directly owns 15,960 shares of the company’s stock, valued at approximately $1,404,639.60. This trade represents a 39.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,841 shares of company stock worth $3,034,265. Company insiders own 0.35% of the company’s stock.

Skyworks Solutions Stock Down 0.5 %

Shares of NASDAQ SWKS opened at $83.56 on Wednesday. The firm’s 50-day simple moving average is $94.50 and its 200 day simple moving average is $100.13. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.21. The company has a quick ratio of 2.19, a current ratio of 3.01 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 12-month low of $82.13 and a 12-month high of $120.86.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. On average, research analysts expect that Skyworks Solutions, Inc. will post 5.39 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. Skyworks Solutions’s payout ratio is presently 75.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SWKS shares. Mizuho dropped their target price on shares of Skyworks Solutions from $127.00 to $105.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Citigroup lowered their price target on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley lowered their price target on shares of Skyworks Solutions from $117.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 13th. TD Cowen boosted their price target on shares of Skyworks Solutions from $90.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on shares of Skyworks Solutions from $87.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.00.

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.