Platinum Investment Management Ltd. Sells 279,564 Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS)

Platinum Investment Management Ltd. trimmed its position in Skyworks Solutions, Inc. (NASDAQ:SWKS - Free Report) by 51.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 259,769 shares of the semiconductor manufacturer's stock after selling 279,564 shares during the quarter. Skyworks Solutions makes up approximately 1.4% of Platinum Investment Management Ltd.'s holdings, making the stock its 18th largest position. Platinum Investment Management Ltd. owned 0.16% of Skyworks Solutions worth $23,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH bought a new position in shares of Skyworks Solutions during the third quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in shares of Skyworks Solutions during the fourth quarter valued at $28,000. SBI Securities Co. Ltd. bought a new position in shares of Skyworks Solutions during the fourth quarter worth about $29,000. Investors Research Corp increased 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 worth $34,000 after acquiring an additional 213 shares during the period. Finally, Picton Mahoney Asset Management bought a new stake in Skyworks Solutions in the 4th quarter valued at about $33,000. 85.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

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Analyst Upgrades and Downgrades

Several analysts recently commented on SWKS shares. Bank of America lowered their target price on Skyworks Solutions from $88.00 to $60.00 and set an "underperform" rating on the stock in a research report on Thursday, February 6th. Barclays reduced their price objective on shares of Skyworks Solutions from $80.00 to $70.00 and set an "underweight" rating for the company in a report on Friday, January 17th. Stifel Nicolaus cut shares of Skyworks Solutions from a "buy" rating to a "hold" rating and lowered their target price for the company from $105.00 to $62.00 in a research note on Thursday, February 6th. Morgan Stanley cut their target price on Skyworks Solutions from $87.00 to $72.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Mizuho cut shares of Skyworks Solutions from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $105.00 to $62.00 in a research report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Skyworks Solutions has an average rating of "Hold" and an average price target of $83.78.

Skyworks Solutions Stock Performance

Shares of NASDAQ SWKS traded down $1.14 during trading hours on Friday, hitting $67.25. 13,009,177 shares of the stock were exchanged, compared to its average volume of 2,569,840. The firm has a market capitalization of $10.81 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.79 and a beta of 1.18. Skyworks Solutions, Inc. has a one year low of $62.01 and a one year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.94 and a quick ratio of 4.73. The company's 50 day moving average is $75.68 and its 200 day moving average is $86.62.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) 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, research analysts expect that Skyworks Solutions, Inc. will post 3.7 EPS for the current year.

Skyworks Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Monday, February 24th. Skyworks Solutions's dividend payout ratio (DPR) is presently 85.89%.

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.