Analysts have been eager to weigh in on the Technology sector with new ratings on RingCentral (RNG), Skyworks Solutions (SWKS) and Advanced Micro Devices (AMD).
RingCentral (RNG)
In a report released today, Ryan Koontz from Rosenblatt Securities maintained a Buy rating on RingCentral, with a price target of $320.00. The company’s shares closed last Monday at $276.87, close to its 52-week high of $299.74.
According to TipRanks.com, Koontz is a 5-star analyst with an average return of 25.1% and a 72.5% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Applied Optoelectronics, and CommScope Holding.
RingCentral has an analyst consensus of Strong Buy, with a price target consensus of $300.59, which is a 10.5% upside from current levels. In a report issued on July 16, Jefferies also maintained a Buy rating on the stock with a $300.00 price target.
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Skyworks Solutions (SWKS)
In a report released today, Atif Malik from Citigroup maintained a Hold rating on Skyworks Solutions, with a price target of $126.00. The company’s shares closed last Monday at $136.56, close to its 52-week high of $139.88.
According to TipRanks.com, Malik is a 5-star analyst with an average return of 26.7% and a 70.8% success rate. Malik covers the Technology sector, focusing on stocks such as Advanced Energy Industries, Silicon Laboratories, and MKS Instruments.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Skyworks Solutions with a $143.90 average price target, representing a 7.7% upside. In a report issued on July 17, UBS also maintained a Hold rating on the stock with a $135.00 price target.
Advanced Micro Devices (AMD)
Deutsche Bank analyst Ross Seymore maintained a Hold rating on Advanced Micro Devices today and set a price target of $70.00. The company’s shares closed last Monday at $69.92, close to its 52-week high of $69.94.
According to TipRanks.com, Seymore is a top 100 analyst with an average return of 26.5% and a 79.7% success rate. Seymore covers the Technology sector, focusing on stocks such as NXP Semiconductors, Power Integrations, and Texas Instruments.
Currently, the analyst consensus on Advanced Micro Devices is a Moderate Buy with an average price target of $58.88, implying a -15.0% downside from current levels. In a report issued on July 20, Barclays also maintained a Hold rating on the stock with a $55.00 price target.
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