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

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

Several other large investors have also made changes to their positions in SWKS. Pzena Investment Management LLC boosted its position in shares of Skyworks Solutions by 37.5% during the 4th quarter. Pzena Investment Management LLC now owns 5,630,049 shares of the semiconductor manufacturer’s stock worth $499,273,000 after acquiring an additional 1,536,289 shares in the last quarter. Barclays PLC boosted its position in shares of Skyworks Solutions by 96.4% during the 3rd quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock worth $191,023,000 after acquiring an additional 949,407 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Skyworks Solutions by 52.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,267,835 shares of the semiconductor manufacturer’s stock worth $223,994,000 after acquiring an additional 775,470 shares in the last quarter. KBC Group NV boosted its position in shares of Skyworks Solutions by 114.0% during the 4th quarter. KBC Group NV now owns 1,248,273 shares of the semiconductor manufacturer’s stock worth $110,697,000 after acquiring an additional 664,874 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Skyworks Solutions by 40.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,715,181 shares of the semiconductor manufacturer’s stock worth $152,102,000 after acquiring an additional 495,774 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Skyworks Solutions Trading Up 0.4 %

SWKS opened at $70.88 on Wednesday. Skyworks Solutions, Inc. has a twelve month low of $62.01 and a twelve month high of $120.86. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $77.08 and a 200-day moving average of $87.27. The stock has a market cap of $11.39 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18.

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

Skyworks Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

SWKS has been the topic of several analyst reports. Rosenblatt Securities reiterated a “neutral” rating and set a $80.00 price target (down previously from $120.00) on shares of Skyworks Solutions in a research report on Thursday, February 6th. Argus downgraded shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America dropped their price objective on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a research note on Thursday, February 6th. Morgan Stanley dropped their price objective on shares of Skyworks Solutions from $87.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler dropped their price objective on shares of Skyworks Solutions from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.78.

Insiders Place Their Bets

In related news, CEO Philip G. Brace purchased 10,000 shares of Skyworks Solutions stock in a transaction on Tuesday, February 25th. The stock was acquired at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the acquisition, the chief executive officer now owns 10,000 shares of the company’s stock, valued at $661,300. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

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.