Pzena Investment Management LLC Buys Shares of 2,689,100 Skyworks Solutions, Inc. (NASDAQ:SWKS)

Pzena Investment Management LLC bought a new stake in shares of Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,689,100 shares of the semiconductor manufacturer's stock, valued at approximately $302,309,000. Skyworks Solutions makes up approximately 1.1% of Pzena Investment Management LLC's investment portfolio, making the stock its 27th largest position. Pzena Investment Management LLC owned about 1.68% of Skyworks Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Skyworks Solutions by 3.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,456 shares of the semiconductor manufacturer's stock worth $1,228,000 after acquiring an additional 418 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Skyworks Solutions by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 207,654 shares of the semiconductor manufacturer's stock worth $20,473,000 after purchasing an additional 3,166 shares in the last quarter. California Public Employees Retirement System grew its stake in Skyworks Solutions by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 321,152 shares of the semiconductor manufacturer's stock worth $31,662,000 after buying an additional 9,692 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Skyworks Solutions by 8.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,287 shares of the semiconductor manufacturer's stock valued at $324,000 after buying an additional 249 shares in the last quarter. Finally, LSV Asset Management raised its stake in Skyworks Solutions by 24.2% in the third quarter. LSV Asset Management now owns 1,741,300 shares of the semiconductor manufacturer's stock valued at $171,675,000 after buying an additional 338,820 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SWKS has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on shares of Skyworks Solutions from $122.00 to $112.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. TD Cowen lowered shares of Skyworks Solutions from a "buy" rating to a "hold" rating and dropped their price objective for the company from $125.00 to $90.00 in a report on Wednesday, May 1st. StockNews.com downgraded Skyworks Solutions from a "buy" rating to a "hold" rating in a research report on Friday, March 29th. KeyCorp downgraded Skyworks Solutions from an "overweight" rating to a "sector weight" rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company reduced their price objective on Skyworks Solutions from $110.00 to $100.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $106.25.

Insider Transactions at Skyworks Solutions

In other news, CEO Liam Griffin bought 11,142 shares of the firm's stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $90.00 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.

Skyworks Solutions Price Performance

SWKS stock traded up $0.98 during trading on Wednesday, hitting $93.43. The stock had a trading volume of 2,311,418 shares, compared to its average volume of 2,359,256. Skyworks Solutions, Inc. has a twelve month low of $85.06 and a twelve month high of $115.69. The company's 50-day moving average price is $100.27 and its two-hundred day moving average price is $102.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 3.81. The stock has a market capitalization of $14.99 billion, a P/E ratio of 17.56, a PEG ratio of 4.41 and a beta of 1.35.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $1.34 EPS for the quarter, beating the consensus estimate of $1.26 by $0.08. Skyworks Solutions had a return on equity of 17.00% and a net margin of 18.85%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. As a group, research analysts predict that Skyworks Solutions, Inc. will post 5.22 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, May 20th. Skyworks Solutions's dividend payout ratio (DPR) is 51.13%.

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.