Needham Believes Skyworks Solutions (NASDAQ: SWKS) Still Has Room to Grow

By Carrie Williams

In a report issued on September 13, Quinn Bolton from Needham reiterated a Buy rating on Skyworks Solutions (NASDAQ: SWKS), with a price target of $110. The company’s shares closed on Friday at $109.55, close to its 52-week high of $112.11.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 19.2% and a 70.9% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Quantenna Communications, and Integrated Device Tech.

Currently, the analyst consensus on Skyworks Solutions is Strong Buy and the average price target is $116.83, representing a 6.6% upside.

In a report issued on September 5, Citigroup also upgraded the stock to Buy with a $125 price target.

Skyworks Solutions’ market cap is currently $20.12B and has a P/E ratio of 21.03. The company has a book value ratio of 5.1630.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Christine King, a Director at SWKS sold 3,705 shares for a total of $395,768.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.