Analyst Update: Cirrus Logic, Inc., Skyworks Solutions Inc, and QUALCOMM, Inc.

Analysts are weighing in on Cirrus Logic, Inc. (CRUS), Skyworks Solutions Inc (:SWKS), and QUALCOMM, Inc. (QCOM)

Oct 18, 2016 at 2:36 PM
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Analysts at Barclays are weighing in on Apple Inc. (NASDAQ:AAPL) suppliers Cirrus Logic, Inc. (NASDAQ:CRUS), Skyworks Solutions Inc (NASDAQ:SWKS), and QUALCOMM, Inc. (NASDAQ:QCOM). Here's a quick roundup of today's brokerage notes on CRUS, SWKS, and QCOM.

  • CRUS is 0.7% higher at $53.65 after Barclays raised its price target on the stock to $45 from $38. Cirrus Logic, Inc. has been on a tear, adding nearly 82% so far this year and tapping a 20-year high of $58.08 last month. Currently, seven out of nine analysts rate the stock a "buy" or better, without a "sell" in sight, but there is still room for more bullish attention, as the average 12-month price target sits just overhead, at $55.57. Meanwhile, options traders have reached a call-skewed extreme -- though volume has been light on an absolute basis. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CRUS' 10-day call/put volume ratio of 7.94 represents an annual peak.
  • SWKS received a price-target hike to $85 from $74, boosting the shares 1.3% to $77.68. The past 12 months have been choppy for the stock, which is sitting nearly in line with its year-over-year breakeven mark. Skyworks Solutions Inc has made some progress lately, though, outperforming the S&P 500 Index (SPX) by more than 20 percentage points over the last three months. And the brokerage bunch is largely in SWKS' bullish corner, with 74% of those tracking the shares handing out a rating of "buy" or better.

  • QCOM is in the midst of its 4G/5G Summit in Hong Kong, where the company has already announced a slew of new technologies to be rolled out in the next few years. Meanwhile, the stock is getting a 1% boost to $65.83 after Barclays raised its price target to $65 from $50. QUALCOMM, Inc. has had a strong year so far, adding 31.7% on the charts. But not everyone is confident more gains are ahead. Nearly half of analysts currently rate QCOM a "hold" or "strong sell." Plus, near-term options traders have been more put-heavy than usual. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.81 sits near the top quartile of its annual range. Of course, much of the sentiment toward QCOM at the moment could be reflective of recent M&A chatter
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