Skyworks Solutions (SWKS) : Traders are bullish on Skyworks Solutions (SWKS) as it has outperformed the S&P 500 by a wide margin of 11.12% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 7.08%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.05% in the last 1 week, and is up 11.54% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Skyworks Solutions Inc. is up 12.45% in the last 3-month period. Year-to-Date the stock performance stands at -4.71%. The stock has recorded a 20-day Moving Average of 8.28% and the 50-Day Moving Average is 10.69%.
Skyworks Solutions (NASDAQ:SWKS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $71.56 and $71.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $73.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $72.29, notching a gain of 0.68% for the day. The total traded volume was 3,110,033 . The stock had closed at $71.80 on the previous day.
Also, Brokerage firm CLSA upgrades its rating on Skyworks Solutions (NASDAQ:SWKS). As per the latest information, the brokerage house raises the price target to $77 per share from a prior target of $73. The shares have been rated Outperform. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on August 9, 2016.
Skyworks Solutions Inc. is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Companys portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics. The Companys products include Front-end Modules and Amplifiers, Wireless Infrastructure, Power Management, Precision Analog Components, WiFi Connectivity, and Smart Energy.