Why Skyworks Solutions Is Trading Higher Today

Skyworks Solutions SWKS shares are trading higher on Monday amid strength in the tech sector. Citigroup analysts raised their price target on the stock from $102 to $126.

Skyworks Solutions produces semiconductors for wireless handsets and other devices that are used to enable wireless connectivity. Its main products include power amplifiers, filters, switches, and integrated front-end modules that support wireless transmissions.

Skyworks' customers are mostly large smartphone manufacturers, but the firm also has a growing presence in nonhandset applications such as wireless routers, medical devices, and automobiles.

Skyworks Solutions shares were up 3.83% at $136.65 during the time of publication on Monday. The stock has a 52-week range between $139.88 and $67.90.