News

Dec 05, 2023

Illinois Municipal Retirement Fund Lowers Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Illinois Municipal Retirement Fund decreased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure

Illinois Municipal Retirement Fund decreased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,404 shares of the semiconductor manufacturer's stock after selling 1,918 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Skyworks Solutions worth $9,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Skyworks Solutions by 0.5% during the first quarter. Vanguard Group Inc. now owns 18,027,044 shares of the semiconductor manufacturer's stock worth $2,402,644,000 after buying an additional 94,095 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Skyworks Solutions by 74.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,160,288 shares of the semiconductor manufacturer's stock worth $379,127,000 after buying an additional 1,781,488 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Skyworks Solutions by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 3,475,826 shares of the semiconductor manufacturer's stock worth $316,205,000 after buying an additional 28,271 shares in the last quarter. Edmp Inc. boosted its holdings in Skyworks Solutions by 8,838.8% during the fourth quarter. Edmp Inc. now owns 3,399,240 shares of the semiconductor manufacturer's stock worth $37,301,000 after buying an additional 3,361,212 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Skyworks Solutions by 15.0% during the fourth quarter. Lazard Asset Management LLC now owns 3,285,893 shares of the semiconductor manufacturer's stock worth $299,442,000 after buying an additional 428,364 shares in the last quarter. Hedge funds and other institutional investors own 78.70% of the company's stock.

Several brokerages have issued reports on SWKS. Mizuho reduced their price target on shares of Skyworks Solutions from $135.00 to $125.00 in a report on Tuesday, May 9th. BMO Capital Markets downgraded shares of Skyworks Solutions from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $140.00 to $100.00 in a report on Tuesday, May 9th. Piper Sandler reduced their price target on shares of Skyworks Solutions from $120.00 to $107.00 in a report on Tuesday, May 9th. Argus cut their price objective on shares of Skyworks Solutions from $160.00 to $140.00 in a research report on Wednesday, May 10th. Finally, Stifel Nicolaus cut their price objective on shares of Skyworks Solutions from $150.00 to $130.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Skyworks Solutions presently has an average rating of "Moderate Buy" and an average target price of $119.92.

Read Our Latest Research Report on SWKS

Shares of NASDAQ:SWKS opened at $109.08 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.83 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $109.12 and a 200 day simple moving average of $109.56. The firm has a market cap of $17.36 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.00 and a beta of 1.27. Skyworks Solutions, Inc. has a 12-month low of $76.16 and a 12-month high of $123.69.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last issued its quarterly earnings results on Monday, May 8th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by ($0.01). The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Skyworks Solutions had a return on equity of 26.38% and a net margin of 21.70%. The firm's quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. On average, equities research analysts anticipate that Skyworks Solutions, Inc. will post 7.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Friday, May 26th. Skyworks Solutions's dividend payout ratio is presently 35.79%.

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, clocks and timings, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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