State of Michigan Retirement System Increases Stake in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Michigan Retirement System lifted its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,183 shares of the semiconductor manufacturer’s stock after acquiring an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Skyworks Solutions were worth $5,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SWKS. Vanguard Group Inc. lifted its stake in Skyworks Solutions by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,656,578 shares of the semiconductor manufacturer’s stock worth $2,097,372,000 after purchasing an additional 123,564 shares during the last quarter. FIL Ltd lifted its stake in shares of 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 acquiring an additional 64,389 shares during the last quarter. Pzena Investment Management LLC purchased a new position in Skyworks Solutions during the 4th quarter valued at $302,309,000. Norges Bank purchased a new stake in Skyworks Solutions in the fourth quarter worth $226,266,000. Finally, Dimensional Fund Advisors LP lifted 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 worth $203,093,000 after purchasing an additional 185,355 shares during the last quarter. 85.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Skyworks Solutions 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 sale, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Liam Griffin acquired 11,142 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $9,373,770. The disclosure for this purchase can be found here. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Piper Sandler reduced their price target on shares of Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price target on Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. TD Cowen downgraded Skyworks Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $125.00 to $90.00 in a report on Wednesday, May 1st. StockNews.com cut Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, Susquehanna restated a “neutral” rating and issued a $90.00 price objective (down from $125.00) on shares of Skyworks Solutions in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $107.19.

Skyworks Solutions Stock Performance

Shares of Skyworks Solutions stock opened at $106.96 on Wednesday. The company has a 50 day moving average price of $97.67 and a 200 day moving average price of $102.62. The firm has a market capitalization of $17.16 billion, a P/E ratio of 20.11, a PEG ratio of 5.07 and a beta of 1.23. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 52 week low of $85.06 and a 52 week high of $115.69.

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

Skyworks Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Monday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

About Skyworks Solutions

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.