California Public Employees Retirement System Lowers Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

California Public Employees Retirement System trimmed its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 309,028 shares of the semiconductor manufacturer’s stock after selling 12,124 shares during the period. California Public Employees Retirement System’s holdings in Skyworks Solutions were worth $34,741,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Skyworks Solutions by 0.3% in the third quarter. Vanguard Group Inc. now owns 18,533,014 shares of the semiconductor manufacturer’s stock worth $1,827,170,000 after acquiring an additional 53,389 shares during the period. Victory Capital Management Inc. grew its position in Skyworks Solutions by 3.4% in the third quarter. Victory Capital Management Inc. now owns 4,133,012 shares of the semiconductor manufacturer’s stock worth $407,474,000 after acquiring an additional 136,188 shares during the period. Invesco Ltd. grew its position in Skyworks Solutions by 11.8% in the third quarter. Invesco Ltd. now owns 3,035,245 shares of the semiconductor manufacturer’s stock worth $299,245,000 after acquiring an additional 321,243 shares during the period. Northern Trust Corp grew its position in Skyworks Solutions by 8.3% in the third quarter. Northern Trust Corp now owns 2,091,132 shares of the semiconductor manufacturer’s stock worth $206,165,000 after acquiring an additional 160,178 shares during the period. Finally, LSV Asset Management grew its position in Skyworks Solutions by 24.2% in the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer’s stock worth $171,675,000 after acquiring an additional 338,820 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SWKS has been the topic of a number of research reports. TD Cowen upped their price target on Skyworks Solutions from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com cut Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. B. Riley upped their price target on Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Piper Sandler restated a “neutral” rating and set a $90.00 price target on shares of Skyworks Solutions in a research note on Thursday, January 4th. Finally, KeyCorp cut Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $115.10.

Skyworks Solutions Stock Performance

Shares of SWKS stock opened at $104.30 on Friday. The stock’s 50-day moving average is $104.07 and its two-hundred day moving average is $101.78. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.91 and a beta of 1.37. Skyworks Solutions, Inc. has a 1 year low of $85.06 and a 1 year high of $115.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.33 earnings per share. Analysts predict that Skyworks Solutions, Inc. will post 5.65 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, February 16th. Skyworks Solutions’s payout ratio is 48.23%.

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.