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Investment analysts at Barclays boosted their price target on shares of Skyworks Solutions (NASDAQ:SWKS) from $26.00 to $31.00 in a note issued to investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price would suggest a potential downside of 25.30% from the stock’s previous close.

Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 9.33% during mid-day trading on Wednesday, hitting $41.50. 11,148,717 shares of the company’s stock traded hands. Skyworks Solutions has a 1-year low of $20.62 and a 1-year high of $41.97. The stock’s 50-day moving average is $36.94 and its 200-day moving average is $30.42. The company has a market cap of $7.841 billion and a P/E ratio of 23.72. Skyworks Solutions also saw some unusual options trading on Wednesday. Stock traders bought 13,172 call options on the company. This represents an increase of 418% compared to the typical volume of 2,541 call options.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.03. The company had revenue of $481.00 million for the quarter, compared to the consensus estimate of $470.26 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that Skyworks Solutions will post $2.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 22nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, May 9th.

Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity raised their price target on shares of Skyworks Solutions from $39.00 to $47.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Skyworks Solutions from $36.00 to $40.00 in a research note on Wednesday. Finally, analysts at Northland Securities raised their price target on shares of Skyworks Solutions from $40.00 to $47.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Skyworks Solutions presently has an average rating of “Buy” and an average target price of $42.31.

Skyworks Solutions, Inc (NASDAQ:SWKS) offers analog and mixed signal semiconductors.

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