Royal Bank Of Canada Lowers Skyworks Solutions Price Target to $70.00

Royal Bank Of Canada has lowered its price target for Skyworks Solutions (NASDAQ:SWKS) to $70.00, representing a potential upside of 16.72% from the company's current price.

This move comes after several other equities analysts have weighed in on the semiconductor manufacturer. Barclays raised SWKS from an 'equal weight' rating to an 'overweight' rating and increased their target price for the company from $60.00 to $70.00 in a research note on April 22nd.

Skyworks Solutions reported its fiscal Q3 revenue of $934.8 million, beating analyst expectations of approximately $926 million. The company's non-GAAP diluted EPS of $1.08 also exceeded the consensus estimate of $1.03.