State of Michigan Retirement System Purchases 300 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Michigan Retirement System lifted its stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,183 shares of the semiconductor manufacturer’s stock after buying an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Skyworks Solutions were worth $5,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Skyworks Solutions by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock valued at $2,097,372,000 after buying an additional 123,564 shares during the last quarter. FIL Ltd increased its holdings in Skyworks Solutions by 2.4% during the 4th quarter. FIL Ltd now owns 2,746,162 shares of the semiconductor manufacturer’s stock worth $308,724,000 after purchasing an additional 64,389 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Skyworks Solutions in the fourth quarter worth approximately $302,309,000. Norges Bank bought a new position in shares of Skyworks Solutions in the fourth quarter valued at approximately $226,266,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Skyworks Solutions by 11.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,806,327 shares of the semiconductor manufacturer’s stock valued at $203,093,000 after buying an additional 185,355 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

Skyworks Solutions Trading Up 0.5 %

NASDAQ:SWKS opened at $106.96 on Wednesday. The company has a market cap of $17.16 billion, a P/E ratio of 20.11, a P/E/G ratio of 5.07 and a beta of 1.23. 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 stock’s fifty day moving average price is $97.67 and its two-hundred day moving average price is $102.62.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 EPS for the quarter, topping the consensus estimate of $1.26 by $0.08. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. As a group, analysts expect that Skyworks Solutions, Inc. will post 5.14 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Monday, May 20th. Skyworks Solutions’s dividend payout ratio is presently 51.13%.

Analyst Ratings Changes

Several brokerages have weighed in on SWKS. Mizuho dropped their price objective on Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. UBS Group decreased their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Susquehanna restated a “neutral” rating and issued a $90.00 target price (down previously from $125.00) on shares of Skyworks Solutions in a research note on Wednesday, May 1st. KeyCorp downgraded Skyworks Solutions from an “overweight” rating to a “sector weight” rating in a research report on Monday, April 8th. Finally, TD Cowen cut Skyworks Solutions from a “buy” rating to a “hold” rating and cut their price objective for the stock from $125.00 to $90.00 in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $107.19.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the acquisition, the chief executive officer now directly owns 104,153 shares in the company, valued at approximately $9,373,770. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares in the company, valued at $5,495,727.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Liam Griffin purchased 11,142 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $90.00 per share, for a total transaction of $1,002,780.00. Following the transaction, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

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.