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Canaccord Genuity increased their target price on shares of Skyworks Solutions (NASDAQ:SWKS) from $39.00 to $47.00 in a research note issued on Wednesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 13.25% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Brean Capital raised their price target on shares of Skyworks Solutions from $35.00 to $48.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Three 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.31.

Skyworks Solutions (NASDAQ:SWKS) traded up 9.33% on Wednesday, hitting $41.50. The stock had a trading volume of 11,148,717 shares. 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 was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 13,172 call options on the stock. This is an increase of approximately 418% compared to the average volume of 2,541 call options.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results 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 announced a quarterly dividend, which is scheduled for Thursday, May 22nd. Investors of record on Tuesday, May 13th will be paid 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.

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

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