This Tech Stock Could Jump 56%, and It Is on Sale Right Now

Skyworks Solutions' (NASDAQ: SWKS) stock price fell 4% after the company released its fiscal 2021 fourth-quarter results on Nov. 4. Investors were unimpressed by the chipmaker's guidance for the current quarter, which indicates that its days of rapid growth may be over.

However, savvy investors shouldn't forget that Skyworks is sitting on secular catalysts and has a strong client base that could help it take advantage of hot tech trends. That's probably the reason why the stock carries an average price target of $208 -- 27% above its current stock price. What's more, the highest analyst price target of $255 points toward a 56% upside from current levels of around $163.

Let's see why Skyworks can hit those price targets.

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Source Fool.com