Neo Ivy Capital Management Acquires Shares of 17,236 Skyworks Solutions, Inc. (NASDAQ:SWKS)

Neo Ivy Capital Management bought a new stake in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,236 shares of the semiconductor manufacturer's stock, valued at approximately $1,702,000.

Other hedge funds also recently made changes to their positions in the company. Vulcan Value Partners LLC increased its position in Skyworks Solutions by 38.8% in the second quarter. Vulcan Value Partners LLC now owns 4,518,451 shares of the semiconductor manufacturer's stock worth $481,552,000 after buying an additional 1,262,964 shares during the last quarter. Pacer Advisors Inc. increased its position in Skyworks Solutions by 54.9% in the second quarter. Pacer Advisors Inc. now owns 3,478,772 shares of the semiconductor manufacturer's stock worth $370,768,000 after buying an additional 1,233,618 shares during the last quarter. Barclays PLC increased its position in Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer's stock worth $191,023,000 after buying an additional 949,407 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Skyworks Solutions by 52.0% in the third quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer's stock valued at $223,994,000 after purchasing an additional 775,470 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its position in shares of Skyworks Solutions by 5,769.6% in the third quarter. Mizuho Securities USA LLC now owns 726,005 shares of the semiconductor manufacturer's stock valued at $71,708,000 after purchasing an additional 713,636 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors.

Skyworks Solutions Stock Up 2.0 %

SWKS stock traded up $1.75 during trading on Wednesday, hitting $89.39. 769,079 shares of the company's stock traded hands, compared to its average volume of 2,376,142. The firm has a market capitalization of $14.30 billion, a P/E ratio of 23.69, a PEG ratio of 1.94 and a beta of 1.19. The business has a fifty day simple moving average of $91.01 and a two-hundred day simple moving average of $99.49. The company has a quick ratio of 4.24, a current ratio of 5.54 and a debt-to-equity ratio of 0.16. Skyworks Solutions, Inc. has a 1 year low of $82.13 and a 1 year high of $120.86.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.71%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The business's revenue for the quarter was down 15.9% on a year-over-year basis. Sell-side analysts anticipate that Skyworks Solutions, Inc. will post 4.45 EPS for the current year.

Skyworks Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, December 3rd. Skyworks Solutions's dividend payout ratio is currently 75.68%.

Insiders Place Their Bets

In other Skyworks Solutions news, SVP Carlos S. Bori sold 9,321 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the transaction, the senior vice president now owns 37,203 shares in the company, valued at approximately $3,793,589.91. This represents a 20.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert John Terry sold 10,522 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $88.01, for a total transaction of $926,041.22. Following the sale, the senior vice president now directly owns 15,960 shares of the company's stock, valued at $1,404,639.60. This represents a 39.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,841 shares of company stock valued at $3,034,265. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on SWKS. Craig Hallum dropped their price objective on Skyworks Solutions from $140.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Susquehanna dropped their price objective on Skyworks Solutions from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, November 13th. Citigroup dropped their price objective on Skyworks Solutions from $83.00 to $72.00 and set a "sell" rating for the company in a research note on Wednesday, November 13th. Benchmark reissued a "hold" rating on shares of Skyworks Solutions in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. dropped their price objective on Skyworks Solutions from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $101.00.

Skyworks Solutions Company 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.