Shares of Skyworks Solutions (NASDAQ: SWKS) have climbed to record highs today, up by 5% as of 11:10 a.m. EST, after UBS modestly increased its price target. However, UBS remains on the sidelines overall, reiterating a neutral rating on the stock.
Analyst Timothy Arcuri raised his price target on Skyworks shares from $181 to $190. The valuation adjustment comes just a few days after UBS expressed positive opinions about the tech company's pending $2.75 billion acquisition of Silicon Labs ' (NASDAQ: SLAB) infrastructure and automotive business, which was announced last week.
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Why Skyworks Solutions Stock Climbed to All-Time Highs on Monday