Retirement Systems of Alabama Cuts Stock Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Retirement Systems of Alabama lessened its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,128 shares of the semiconductor manufacturer’s stock after selling 912 shares during the quarter. Retirement Systems of Alabama’s holdings in Skyworks Solutions were worth $3,949,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AXQ Capital LP purchased a new position in Skyworks Solutions in the 3rd quarter valued at $789,000. Highland Capital Management LLC boosted its position in Skyworks Solutions by 91.4% during the fourth quarter. Highland Capital Management LLC now owns 42,564 shares of the semiconductor manufacturer’s stock worth $4,785,000 after acquiring an additional 20,330 shares during the last quarter. LSV Asset Management boosted its position in Skyworks Solutions by 24.2% during 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 last quarter. International Assets Investment Management LLC grew its stake in Skyworks Solutions by 10,450.2% during the 4th quarter. International Assets Investment Management LLC now owns 84,507 shares of the semiconductor manufacturer’s stock valued at $9,500,000 after acquiring an additional 83,706 shares in the last quarter. Finally, abrdn plc raised its holdings in Skyworks Solutions by 50.0% in the 4th quarter. abrdn plc now owns 90,031 shares of the semiconductor manufacturer’s stock valued at $10,121,000 after acquiring an additional 30,022 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the completion of the purchase, the chief executive officer now directly owns 104,153 shares in the company, valued at approximately $9,373,770. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SWKS has been the subject of a number of analyst reports. Stifel Nicolaus dropped their price target on Skyworks Solutions from $122.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Piper Sandler dropped their target price on Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. UBS Group reduced their price target on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Rosenblatt Securities dropped their price objective on shares of Skyworks Solutions from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, B. Riley lifted their target price on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $108.86.

Skyworks Solutions Stock Down 0.8 %

Shares of NASDAQ:SWKS opened at $91.78 on Tuesday. The firm has a market capitalization of $14.73 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 4.00 and a beta of 1.35. 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 current ratio of 5.19 and a quick ratio of 3.81. The firm’s 50-day moving average is $103.17 and its two-hundred day moving average is $101.89.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.96%. The ex-dividend date is Monday, May 20th. Skyworks Solutions’s payout ratio is currently 51.13%.

Skyworks Solutions Company 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.