Skyworks Solutions Receives a Buy from Oppenheimer

By Ryan Adsit

Oppenheimer analyst Rick Schafer assigned a Buy rating to Skyworks Solutions (NASDAQ: SWKS) on October 31 and set a price target of $100. The company’s shares closed yesterday at $75.07.

According to TipRanks.com, Schafer is a top 25 analyst with an average return of 14.6% and a 71.0% success rate. Schafer covers the Technology sector, focusing on stocks such as Adesto Technologies Corp, Advanced Micro Devices, and Applied Micro Circ.

Currently, the analyst consensus on Skyworks Solutions is Strong Buy and the average price target is $87.27, representing a 16.3% upside.

In a report issued on October 20, Brean Capital also reiterated a Buy rating on the stock.

The company has a one year high of $88.52 and a one year low of $54.50. Currently, Skyworks Solutions has an average volume of 2.75M.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Timothy Furey, a Director at SWKS sold 5,000 shares for a total of $374,350.

Skyworks Solutions, Inc. engages in the design, development, and manufacture of proprietary semiconductor products. Its product portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, power management devices, receivers, switches, and technical ceramics. The company was founded in 1962 and is headquartered in Woburn, MA.