Neo Ivy Capital Management Makes New $1.70 Million Investment in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Neo Ivy Capital Management bought a new position in Skyworks Solutions, Inc. (NASDAQ:SWKS) in the third quarter, HoldingsChannel reports. The fund bought 17,236 shares of the semiconductor manufacturer’s stock, valued at approximately $1,702,000.

A number of other hedge funds have also bought and sold shares of SWKS. Innealta Capital LLC purchased a new position in Skyworks Solutions in the 2nd quarter worth about $27,000. Rothschild Investment LLC purchased a new stake in shares of Skyworks Solutions during the 2nd quarter valued at about $27,000. Erste Asset Management GmbH purchased a new stake in shares of Skyworks Solutions during the 3rd quarter valued at about $27,000. Investors Research Corp increased its position in shares of Skyworks Solutions by 167.7% during the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 213 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Skyworks Solutions by 79.7% during the 2nd quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Trading Down 2.3 %

SWKS stock opened at $87.64 on Wednesday. Skyworks Solutions, Inc. has a 1-year low of $82.13 and a 1-year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.54 and a quick ratio of 4.24. The company has a market capitalization of $14.02 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.94 and a beta of 1.19. The business has a 50 day simple moving average of $91.01 and a two-hundred day simple moving average of $99.49.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.03. Skyworks Solutions had a return on equity of 13.71% and a net margin of 14.27%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company posted $1.95 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. Research analysts anticipate that Skyworks Solutions, Inc. will post 4.45 EPS for the current fiscal year.

Skyworks Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 3.19%. Skyworks Solutions’s payout ratio is 75.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SWKS shares. B. Riley reduced their price target on shares of Skyworks Solutions from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Citigroup reduced their price target on shares of Skyworks Solutions from $83.00 to $72.00 and set a “sell” rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Piper Sandler reduced their price target on shares of Skyworks Solutions from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Craig Hallum cut 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. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Skyworks Solutions presently has an average rating of “Hold” and a consensus price target of $101.00.

Insider Activity

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

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.