Skyworks Solutions Inc (NASDAQ:SWKS): Update On Analysts’ Ratings

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Dallas, Texas 05/07/2014 (FINANCIALSTRENDS) – Massachusetts based Skyworks Solutions Inc. (NASDAQ:SWKS) offers analog semiconductors worldwide. Yesterday, the stock of Skyworks Solutions closed at $41.37, around 1.43% down from its previous close. The stock has recently marked a fresh 52 week high of $42.49 and has almost doubled from its 52 week low of $     20.62. Following the recent surge in the stock prices, the stock is trading almost 41% and 10.5% above its 200 day and 50 day simple moving averages.

Analysts’ Ratings:

Recently many investment analysts have commented on the stock of Skyworks Solutions Inc. (NASDAQ:SWKS). Equities analysts at Oppenheimer recently raised their price target for the stock to $42 from $39 with an “outperform” rating on the stock. Separately, analysts at Barclays also raised their price target for the stock from $26 to $31 which suggests significant downside from its Tuesday’s closing of $41.37. They now maintain an “equal weight” rating on the stock.

Analysts at Canaccord Genuity also raised their price target on the stock from $39 to $47 and they now maintain a “buy” rating on the stock. Equities analyst at BMO Capital Markets also raised its price objective from $36 to $40 on the stock. Analysts at Northland Securities raised its price target from $40 to $47 on the stock and they now maintain an “outperform” rating on the stock. Analysts at JMP Securities also upgraded its price target from $46 to $50 and reaffirmed an “outperform” rating on the stock.

Analyst’s Comment:

Equity research analyst at Zacks recently commented on the stocks of Skyworks Solutions Inc. (NASDAQ:SWKS) with a note, “Skyworks continues to benefit from strong underlying demand in the mobile Internet sector, backed by market share gains and new product launches. We maintain our long-term Neutral recommendation for the stock as we anticipate it to perform in line with the broader market.” Zacks recently maintain a “neutral” rating on the stock with a price target of $44.