Kentucky Retirement Systems Insurance Trust Fund Has $573,000 Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,288 shares of the semiconductor manufacturer’s stock after selling 391 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Skyworks Solutions were worth $573,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BNP Paribas acquired a new stake in shares of Skyworks Solutions in the 1st quarter valued at approximately $27,000. Access Investment Management LLC acquired a new stake in shares of Skyworks Solutions in the 1st quarter valued at approximately $31,000. ST Germain D J Co. Inc. raised its position in shares of Skyworks Solutions by 60.5% in the 1st quarter. ST Germain D J Co. Inc. now owns 345 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 130 shares during the period. AdvisorNet Financial Inc raised its position in shares of Skyworks Solutions by 790.0% in the 4th quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock valued at $40,000 after acquiring an additional 316 shares during the period. Finally, Vestor Capital LLC acquired a new stake in shares of Skyworks Solutions in the 4th quarter valued at approximately $43,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Skyworks Solutions

In other Skyworks Solutions news, CEO Liam Griffin purchased 11,142 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired 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 of the company’s stock, valued at approximately $9,373,770. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert A. Schriesheim sold 25,433 shares of Skyworks Solutions stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the sale, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Liam Griffin bought 11,142 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were 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 sold 26,337 shares of company stock valued at $2,399,797 in the last quarter. 0.34% of the stock is currently owned by insiders.

Skyworks Solutions Stock Up 3.1 %

Shares of NASDAQ:SWKS traded up $3.50 during midday trading on Friday, hitting $116.18. The stock had a trading volume of 2,207,493 shares, compared to its average volume of 2,520,524. Skyworks Solutions, Inc. has a 12 month low of $85.06 and a 12 month high of $120.86. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. The business’s 50-day simple moving average is $103.59 and its 200-day simple moving average is $102.97. The company has a market cap of $18.64 billion, a P/E ratio of 21.84, a PEG ratio of 5.53 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.08. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. On average, sell-side analysts forecast that Skyworks Solutions, Inc. will post 5.14 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.34%. The ex-dividend date was Monday, May 20th. Skyworks Solutions’s dividend payout ratio is 51.13%.

Analyst Ratings Changes

Several analysts have commented on SWKS shares. JPMorgan Chase & Co. dropped their target price on shares of Skyworks Solutions from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Mizuho dropped their target price on shares of Skyworks Solutions from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. UBS Group dropped their target price on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Needham & Company LLC restated a “hold” rating on shares of Skyworks Solutions in a report on Wednesday, May 1st. Finally, Piper Sandler dropped their target price on shares of Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $107.14.

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.