Platinum Investment Management Ltd buys $69,985,391 stake in Skyworks Solutions Inc (SWKS)

Skyworks Solutions Inc (SWKS) : Platinum Investment Management Ltd scooped up 234,910 additional shares in Skyworks Solutions Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,036,360 shares of Skyworks Solutions Inc which is valued at $69,985,391.Skyworks Solutions Inc makes up approximately 1.58% of Platinum Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Bronfman E.l. Rothschild reduced its stake in SWKS by selling 997 shares or 70.81% in the most recent quarter. The Hedge Fund company now holds 411 shares of SWKS which is valued at $27,755.First Interstate Bank boosted its stake in SWKS in the latest quarter, The investment management firm added 112 additional shares and now holds a total of 141,536 shares of Skyworks Solutions Inc which is valued at $9,540,942. Skyworks Solutions Inc makes up approx 1.91% of First Interstate Bank’s portfolio.Sheaff Brock Investment Advisors reduced its stake in SWKS by selling 3,228 shares or 19.33% in the most recent quarter. The Hedge Fund company now holds 13,468 shares of SWKS which is valued at $896,295. Skyworks Solutions Inc makes up approx 0.11% of Sheaff Brock Investment Advisors’s portfolio.Emerald Mutual Fund Advisers Trust reduced its stake in SWKS by selling 41 shares or 1.15% in the most recent quarter. The Hedge Fund company now holds 3,539 shares of SWKS which is valued at $233,645. Skyworks Solutions Inc makes up approx 0.01% of Emerald Mutual Fund Advisers Trust’s portfolio.

Skyworks Solutions Inc opened for trading at $74.79 and hit $75.65 on the upside on Monday, eventually ending the session at $75.22, with a gain of 0.51% or 0.38 points. The heightened volatility saw the trading volume jump to 20,21,934 shares. Company has a market cap of $14,103 M.

On the company’s financial health, Skyworks Solutions Inc reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.24. The company had revenue of $775.10 million for the quarter, compared to analysts expectations of $775.49 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on Skyworks Solutions Inc. Skyworks Solutions Inc was Upgraded by CLSA to ” Outperform” on Aug 9, 2016. Shares were Reiterated by Cowen on Jul 22, 2016 to “Market Perform” and Lowered the Price Target to $ 72 from a previous price target of $76 .Skyworks Solutions Inc was Downgraded by Pacific Crest to ” Sector Weight” on Jul 5, 2016.

Skyworks Solutions Inc. is engaged in the production of analog semiconductors. The Company supports automotive broadband wireless infrastructure energy management Global Positioning System (GPS) industrial medical military wireless networking smartphone and tablet applications. The Company’s portfolio includes amplifiers attenuators circulators demodulators detectors diodes directional couplers front-end modules hybrids infrastructure radio frequency (RF) subsystems isolators lighting and display solutions mixers modulators optocouplers optoisolators phase shifters phase locked loops (PLLs) synthesizers voltage controlled oscillator power dividers (VCOs) power dividers/combiners power management devices receivers switches and technical ceramics. The Company’s products include Front-end Modules and Amplifiers Wireless Infrastructure Power Management Precision Analog Components WiFi Connectivity and Smart Energy.

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