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Sellers Reduce Exposure to Shares of Skyworks Solutions on 1.2x Above-Average Volume (SWKS)

Published on Mon, 02/25/2013 - 14:16
By Adrienne Chilton

Skyworks Solutions's stock is down 3.1% to $21.18 on heavy trading volume. Approximately 5.3 million shares have changed hands today vs. average 30-day volume of 4.3 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

Skyworks Solutions, Inc., a wireless semiconductor company, designs and manufactures radio frequency and complete semiconductor system solutions for mobile communications applications. The Company provides front-end modules, radio frequency subsystems, and system solutions to wireless handset and infrastructure customers worldwide.

Skyworks Solutions share prices have moved between a 52-week high of $31.44 and a 52-week low of $19.21 and are now trading 10% above that low price at $21.18 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

Skyworks Solutions (NASDAQ:SWKS) has potential upside of 43.1% based on a current price of $21.18 and analysts' consensus price target of $30.31. The stock should find initial resistance at its 50-day moving average (MA) of $21.88 and further resistance at its 200-day MA of $24.73.

By Adrienne Chilton
achilton@fnno.com