Needham & Company Downgrades Skyworks Solutions (SWKS) to Hold

Needham & Company downgraded Skyworks Solutions (NASDAQ: SWKS) from Buy to Hold.

Analyst N. Quinn Bolton commented, "With SWKS shares up 161% YTD in 2014, vs. 30.3% for the SOX Index and 15.1% for the NASDAQ Composite, and trading above our prior price target of $70, or 14x our CY16E non-GAAP EPS estimate, we prefer to move to the sidelines to see if the market presents an opportunity to buy shares lower in C1H15. We downgrade shares to Hold from Buy and remove our 12-month PT."

For an analyst ratings summary and ratings history on Skyworks Solutions click here. For more ratings news on Skyworks Solutions click here.

Shares of Skyworks Solutions closed at $74.49 yesterday.

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