Platinum Investment Management Ltd. Has $23.04 Million Stock Position in Skyworks Solutions, Inc. (NASDAQ:SWKS)

Platinum Investment Management Ltd. decreased its position in Skyworks Solutions, Inc. (NASDAQ:SWKS) by 51.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 259,769 shares of the semiconductor manufacturer’s stock after selling 279,564 shares during the period. Skyworks Solutions makes up 1.4% of Platinum Investment Management Ltd.’s portfolio, making the stock its 18th largest position. Platinum Investment Management Ltd. owned approximately 0.16% of Skyworks Solutions worth $23,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in shares of Skyworks Solutions in the 3rd quarter valued at $27,000. Golden State Wealth Management LLC acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at $29,000. Picton Mahoney Asset Management acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at $33,000. Finally, Investors Research Corp grew its holdings in shares of Skyworks Solutions by 167.7% in the 3rd quarter. Investors Research Corp now owns 340 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Insider Activity at Skyworks Solutions

In other Skyworks Solutions news, CEO Philip G. Brace bought 10,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of $66.13 per share, for a total transaction of $661,300.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

SWKS has been the topic of several research reports. Mizuho cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. The Goldman Sachs Group cut their price objective on shares of Skyworks Solutions from $92.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Argus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skyworks Solutions in a research report on Thursday, February 6th. Finally, Barclays cut their price objective on shares of Skyworks Solutions from $80.00 to $70.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.78.

Skyworks Solutions Stock Up 0.4 %

Shares of SWKS opened at $70.88 on Wednesday. Skyworks Solutions, Inc. has a 52 week low of $62.01 and a 52 week high of $120.86. The firm has a market cap of $11.39 billion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. The firm’s 50-day simple moving average is $77.08 and its 200 day simple moving average is $87.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 4.73 and a current ratio of 5.94.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a net margin of 13.02% and a return on equity of 12.60%. On average, analysts forecast that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.80 dividend on an annualized basis and a yield of 3.95%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 85.89%.

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.