Texas Permanent School Fund Reduces Position in Skyworks Solutions, Inc. (SWKS)

Texas Permanent School Fund lowered its stake in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,847 shares of the semiconductor manufacturer’s stock after selling 2,183 shares during the period. Texas Permanent School Fund’s holdings in Skyworks Solutions were worth $4,975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SWKS. Daiwa Securities Group Inc. raised its position in Skyworks Solutions by 84.3% in the second quarter. Daiwa Securities Group Inc. now owns 9,400 shares of the semiconductor manufacturer’s stock valued at $902,000 after buying an additional 4,300 shares during the period. Pillar Pacific Capital Management LLC raised its stake in shares of Skyworks Solutions by 49.1% in the second quarter. Pillar Pacific Capital Management LLC now owns 15,195 shares of the semiconductor manufacturer’s stock worth $1,458,000 after buying an additional 5,005 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Skyworks Solutions by 134.4% in the second quarter. Great West Life Assurance Co. Can now owns 306,738 shares of the semiconductor manufacturer’s stock worth $29,375,000 after buying an additional 175,902 shares during the last quarter. Alpha Cubed Investments LLC purchased a new stake in shares of Skyworks Solutions during the second quarter worth approximately $209,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Skyworks Solutions by 9.1% in the second quarter. Janney Montgomery Scott LLC now owns 18,940 shares of the semiconductor manufacturer’s stock worth $1,817,000 after buying an additional 1,586 shares during the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

Skyworks Solutions, Inc. (NASDAQ SWKS) opened at 102.21 on Friday. The firm’s 50 day moving average is $103.25 and its 200-day moving average is $100.57. The company has a market cap of $18.78 billion, a P/E ratio of 19.62 and a beta of 0.82. Skyworks Solutions, Inc. has a 52 week low of $65.76 and a 52 week high of $112.11.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. The business had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the business earned $1.24 earnings per share. On average, analysts predict that Skyworks Solutions, Inc. will post $6.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be paid a $0.32 dividend. The ex-dividend date is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s payout ratio is currently 24.57%.

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SWKS has been the subject of a number of recent research reports. ValuEngine downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 23rd. BMO Capital Markets reiterated a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 21st. Canaccord Genuity upped their price objective on Skyworks Solutions from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Pacific Crest restated an “overweight” rating on shares of Skyworks Solutions in a research report on Monday, April 24th. Finally, Mizuho restated a “buy” rating on shares of Skyworks Solutions in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $110.43.

In other Skyworks Solutions news, insider Liam Griffin sold 8,056 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total value of $848,377.36. Following the transaction, the insider now directly owns 54,310 shares of the company’s stock, valued at approximately $5,719,386.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine King sold 3,500 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the transaction, the director now directly owns 16,436 shares in the company, valued at $1,788,894.24. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Skyworks Solutions Company Profile

Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

Institutional Ownership by Quarter for Skyworks Solutions (NASDAQ:SWKS)

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