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Downgrade Alert for Skyworks Solutions (SWKS)

By David Diaz

Skyworks Solutions (NASDAQ:SWKS) was downgraded from Strong Buy to Outperform at Raymond James today. The stock closed yesterday at $72.23 on volume of 3.7 million shares, above average daily volume of 3.4 million.

Potential upside of 56.3% exists for Skyworks Solutions, based on a current level of $72.23 and analysts' average consensus price target of $112.90. The stock should find resistance at its 200-day moving average (MA) of $79.51, as well as support at its 50-day MA of $70.90.

Skyworks Solutions share prices have moved between a 52-week high of $112.88 and a 52-week low of $54.50 and closed yesterday at 33% above that low price at $72.23 per share. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.8%.

Skyworks Solutions, Inc., a wireless semiconductor company, designs and manufactures radio frequency and complete semiconductor system solutions for mobile communications applications. The Company provides front-end modules, radio frequency subsystems, and system solutions to wireless handset and infrastructure customers worldwide.

SmarTrend recommended that subscribers consider buying shares of Skyworks Solutions on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.23. Since that recommendation, shares of Skyworks Solutions have risen 18.2%. We continue to monitor SWKS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades skyworks solutions

Ticker(s): SWKS