State of Tennessee Department of Treasury Cuts Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Tennessee Department of Treasury lessened its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,860 shares of the semiconductor manufacturer's stock after selling 5,007 shares during the period. State of Tennessee Department of Treasury's holdings in Skyworks Solutions were worth $3,712,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Skyworks Solutions during the 4th quarter worth $228,646,000. Pzena Investment Management LLC grew its position in Skyworks Solutions by 37.5% during the fourth quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer's stock valued at $499,273,000 after acquiring an additional 1,536,289 shares during the period. Marshall Wace LLP increased its stake in Skyworks Solutions by 4,364.4% during the fourth quarter. Marshall Wace LLP now owns 1,421,647 shares of the semiconductor manufacturer's stock worth $126,072,000 after acquiring an additional 1,389,803 shares during the last quarter. Barclays PLC lifted its stake in shares of Skyworks Solutions by 96.4% in the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock valued at $191,023,000 after purchasing an additional 949,407 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Skyworks Solutions by 114.0% during the 4th quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer's stock worth $110,697,000 after purchasing an additional 664,874 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SWKS. Benchmark reaffirmed a "hold" rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Argus lowered shares of Skyworks Solutions from a "buy" rating to a "hold" rating in a report on Monday, February 10th. B. Riley downgraded Skyworks Solutions from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $65.00 in a report on Thursday, February 6th. Needham & Company LLC reissued a "hold" rating on shares of Skyworks Solutions in a report on Thursday, February 6th. Finally, Bank of America cut their target price on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $80.44.

Skyworks Solutions Stock Performance

SWKS traded down $0.51 during trading on Tuesday, hitting $61.60. The stock had a trading volume of 2,537,572 shares, compared to its average volume of 2,847,528. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.79 and a beta of 1.21. The company has a 50 day moving average price of $63.05 and a 200-day moving average price of $78.86. Skyworks Solutions, Inc. has a one year low of $47.93 and a one year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. As a group, research analysts predict that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Monday, February 24th. Skyworks Solutions's payout ratio is 85.89%.

Insider Activity at Skyworks Solutions

In related news, CEO Philip G. Brace bought 10,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was acquired at an average cost of $66.13 per share, with a total value of $661,300.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is currently owned by company insiders.

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.