Pzena Investment Management LLC Buys 2,132,847 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Pzena Investment Management LLC boosted its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 37.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,762,896 shares of the semiconductor manufacturer's stock after purchasing an additional 2,132,847 shares during the period. Skyworks Solutions makes up about 1.8% of Pzena Investment Management LLC's portfolio, making the stock its 22nd largest holding. Pzena Investment Management LLC owned 4.95% of Skyworks Solutions worth $501,716,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth $37,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Skyworks Solutions by 60.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 594 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 223 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Skyworks Solutions by 53.2% during the fourth quarter. Quadrant Capital Group LLC now owns 628 shares of the semiconductor manufacturer's stock worth $56,000 after acquiring an additional 218 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth $56,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Skyworks Solutions during the fourth quarter worth $66,000. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SWKS shares. Barclays raised their price target on Skyworks Solutions from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on shares of Skyworks Solutions from $70.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group started coverage on shares of Skyworks Solutions in a research note on Thursday, July 10th. They issued a "sell" rating and a $70.00 target price for the company. Mizuho increased their target price on shares of Skyworks Solutions from $72.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, UBS Group reduced their target price on shares of Skyworks Solutions from $70.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $79.06.

Skyworks Solutions Price Performance

NASDAQ:SWKS traded up $0.56 on Friday, hitting $72.76. The company had a trading volume of 1,787,939 shares, compared to its average volume of 3,003,630. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.82 and a beta of 1.17. The company has a current ratio of 4.95, a quick ratio of 3.84 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $72.88 and a two-hundred day moving average of $71.92. Skyworks Solutions, Inc. has a 52 week low of $47.93 and a 52 week high of $120.07.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $953.20 million during the quarter, compared to analysts' expectations of $951.50 million. Skyworks Solutions had a net margin of 10.43% and a return on equity of 11.53%. Skyworks Solutions's revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 earnings per share. On average, research analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Tuesday, May 27th. Skyworks Solutions's dividend payout ratio is 109.80%.

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.