CLSA Upgrades Skyworks Solutions Inc to Outperform with Price Target $77.00

Brokerage firm CLSA Upgrades its rating on Skyworks Solutions Inc(NASDAQ:SWKS). In a research note issued to the investors, the brokerage major Raises the price-target to $77.00 per share. The shares have been rated Outperform. Previously, the analysts had a Underperform rating on the shares. The rating by CLSA was issued on Aug 9, 2016.

In a different note, On Jul 5, 2016, Pacific Crest said it Downgrades its rating on Skyworks Solutions Inc. The shares have been rated ‘Sector Weight’ by the firm. Morgan Stanley said it Initiates Coverage on Skyworks Solutions Inc, according to a research note issued on Jun 27, 2016. The shares have been rated ‘Underweight’ by the firm. On Jun 9, 2016, Citigroup said it Upgrades its rating on Skyworks Solutions Inc. In the research note, the firm Lowers the price-target to $69.50 per share. The shares have been rated ‘Buy’ by the firm. CLSA said it Initiates Coverage on Skyworks Solutions Inc, according to a research note issued on May 25, 2016. The shares have been rated ‘Underperform’ by the firm. On May 16, 2016, Citigroup said it Maintains its rating on Skyworks Solutions Inc. In the research note, the firm Lowers the price-target to $77.00 per share. The shares have been rated ‘Neutral’ by the firm.

Skyworks Solutions Inc (SWKS) made into the market gainers list on Wednesdays trading session with the shares advancing 0.85% or 0.59 points. Due to strong positive momentum, the stock ended at $70.19, which is also near the day’s high of $70.42. The stock began the session at $69.7 and the volume stood at 31,07,157 shares. The 52-week high of the shares is $92.63 and the 52 week low is $54.5. The company has a current market capitalization of $13,160 M and it has 18,74,96,060 shares in outstanding.

Skyworks Solutions Inc(SWKS) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $751.70M. Analysts had an estimated revenue of $750.22M. Earnings per share were $1.24. Analysts had estimated an EPS of $1.21.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, David J Aldrich (Executive Chairman) sold 15,000 shares at $59.70 per share price.Also, On May 18, 2016, Peter L Gammel (Chief Technology Officer) sold 22,015 shares at $63.85 per share price.On Apr 15, 2016, Liam Griffin (President) sold 2,500 shares at $75.28 per share price, according to the Form-4 filing with the securities and exchange commission.

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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