Arizona State Retirement System Has $4.14 Million Holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Posted by on May 8th, 2023

Arizona State Retirement System grew its holdings in Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,415 shares of the semiconductor manufacturer’s stock after buying an additional 1,230 shares during the period. Arizona State Retirement System’s holdings in Skyworks Solutions were worth $4,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SWKS. Edmp Inc. raised its holdings in Skyworks Solutions by 8,838.8% in the 4th quarter. Edmp Inc. now owns 3,399,240 shares of the semiconductor manufacturer’s stock valued at $37,301,000 after acquiring an additional 3,361,212 shares during the period. Victory Capital Management Inc. boosted its stake in Skyworks Solutions by 245.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,378,800 shares of the semiconductor manufacturer’s stock valued at $202,841,000 after purchasing an additional 1,689,850 shares during the period. Assenagon Asset Management S.A. grew its holdings in Skyworks Solutions by 85.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 848,178 shares of the semiconductor manufacturer’s stock valued at $77,294,000 after buying an additional 390,044 shares in the last quarter. Artemis Investment Management LLP bought a new position in Skyworks Solutions during the 4th quarter worth $29,349,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Skyworks Solutions by 58.1% during the third quarter. Two Sigma Advisers LP now owns 636,500 shares of the semiconductor manufacturer’s stock worth $54,274,000 after buying an additional 234,000 shares in the last quarter. 75.37% of the stock is currently owned by institutional investors.

Insider Activity at Skyworks Solutions

In other news, SVP Reza Kasnavi sold 3,000 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $120.03, for a total value of $360,090.00. Following the completion of the sale, the senior vice president now owns 16,994 shares in the company, valued at approximately $2,039,789.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SWKS. Citigroup boosted their price objective on shares of Skyworks Solutions from $94.50 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, February 8th. Craig Hallum increased their price target on Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Morgan Stanley upped their target price on Skyworks Solutions from $96.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 7th. TheStreet upgraded Skyworks Solutions from a “c+” rating to a “b-” rating in a research report on Thursday, February 9th. Finally, B. Riley boosted their price target on Skyworks Solutions from $95.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.58.

Skyworks Solutions Trading Up 1.9 %

Shares of SWKS opened at $104.12 on Monday. The company’s fifty day simple moving average is $111.01 and its 200-day simple moving average is $102.85. The company has a market cap of $16.57 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.85 and a beta of 1.27. The company has a current ratio of 2.79, a quick ratio of 1.75 and a debt-to-equity ratio of 0.30. Skyworks Solutions, Inc. has a twelve month low of $76.16 and a twelve month high of $123.69.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last released its quarterly earnings data on Monday, February 6th. The semiconductor manufacturer reported $2.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.59. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Skyworks Solutions had a net margin of 22.33% and a return on equity of 28.65%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.90 EPS. As a group, analysts expect that Skyworks Solutions, Inc. will post 8.16 EPS for the current year.

Skyworks Solutions declared that its Board of Directors has initiated a stock buyback plan on Monday, February 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 11.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Skyworks Solutions Company Profile

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.

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

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