Skyworks Solutions, Inc. (SWKS) has been upgraded today by the securities research analysts at investment firm DA Davidson which raised Skyworks Solutions from a “neutral” rating to “buy.” Davidson also heightened their performance outlook for Skyworks and adjusted their price target from $25 to $30 dollars. Davidson noted that the Chinese market should allow Skyworks to meet their FQ3 revenue guidance.
SWKS outstripped yesterday’s entire intraday range today during the normal market session after beginning to the downside at the open. SWKS has made steady bullish progress after rebounding from June 21st’s low of $21.41 and set a new intermediate high today with continued bullish momentum.
Skyworks Solutions is slated to release their next earnings report on July 21st, 2011, and the current consensus EPS estimate is expected to be 46 cents. Skywork’s last earnings report was released on April 28th, 2011, and announced EPS of 41 cents with revenue totaling $325.4 million which was up 36.7% year to year. SWKS is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed signal semiconductors. The company has market capitalization of $4,403,322,550 and 186,187,000 shares outstanding. SWKS has a 52-week high of $37.82 with the low being $16.14 dollars.