State of Alaska Department of Revenue Cuts Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

State of Alaska Department of Revenue lessened its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 30.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,678 shares of the semiconductor manufacturer’s stock after selling 14,010 shares during the quarter. State of Alaska Department of Revenue’s holdings in Skyworks Solutions were worth $3,128,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas purchased a new stake in shares of Skyworks Solutions during the first quarter worth $27,000. Rothschild Investment LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth $27,000. Innealta Capital LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth $27,000. Access Investment Management LLC purchased a new stake in shares of Skyworks Solutions during the first quarter worth $31,000. Finally, Blue Trust Inc. grew its holdings in shares of Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Trading Down 8.2 %

NASDAQ SWKS opened at $89.99 on Thursday. The firm’s 50-day moving average is $99.50 and its two-hundred day moving average is $101.29. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 4.29. The stock has a market capitalization of $14.37 billion, a P/E ratio of 18.55, a PEG ratio of 4.32 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. Skyworks Solutions’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. On average, sell-side analysts anticipate that Skyworks Solutions, Inc. will post 5.21 earnings per share for the current year.

Insider Transactions at Skyworks Solutions

In other news, SVP Carlos S. Bori sold 9,321 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total transaction of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Carlos S. Bori sold 10,177 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $97.63, for a total transaction of $993,580.51. Following the sale, the senior vice president now directly owns 27,026 shares in the company, valued at approximately $2,638,548.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carlos S. Bori sold 9,321 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares in the company, valued at $3,793,589.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,341 shares of company stock valued at $2,142,110. 0.35% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SWKS. Robert W. Baird upped their target price on shares of Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Susquehanna dropped their target price on shares of Skyworks Solutions from $125.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, October 21st. B. Riley lowered their price target on shares of Skyworks Solutions from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. The Goldman Sachs Group raised shares of Skyworks Solutions to a “hold” rating in a research report on Wednesday, July 31st. Finally, Craig Hallum boosted their price target on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $109.88.

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.