Notable Upgrades: Western Digital (WDC), Microsoft (MSFT), Celgene (CELG), Skyworks Solutions (SWKS)

Analysts at Argus are out with a report this morning upgrading shares of Western Digital Corporation (WDC) with a ‘Buy’ from ‘Hold’ rating. The firm set its price target on the name at $90.

On valuation measures, Western Digital Corp. shares are currently priced at 12.63x this year’s forecasted earnings, compared to the industry’s 11.97x earnings multiple. Ticker has a forward P/E of 10.34 and t-12 price-to-sales ratio of 1.26. EPS for the same period is $6.18.

In the past 52 weeks, shares of Irvine, Calif.-based company have traded between a low of $67.87 and a high of $114.69 and are now at $78.05.

Shares are down 16.19% year-over-year and 26.88% year-to-date.

Analysts at BofA/Merrill (BAC) upgraded their rating on the shares of Microsoft Corporation (MSFT). In a research note published on Thursday, the firm lifted the name with a ‘Neutral’ from ‘Underperform’ rating and set a 12-month base case estimate of $46 from $39 per share.

Microsoft Corp. shares are currently priced at 29.61x this year’s forecasted earnings, compared to the industry’s 8.34x earnings multiple. Ticker has a PEG and forward P/E ratio of 2.28 and 14.29, respectively. Price/Sales for the same period is 3.78 whereas EPS is $1.48. Currently there are 16 analysts that rate MSFT a ‘Buy’, 11 rate it a ‘Hold’. 3 analysts rate it a ‘Sell’. MSFT has a median Wall Street price target of $51.50 with a high target of $60.00.

Celgene Corporation (CELG) was raised to ‘Overweight’ from ‘Neutral’ at JP Morgan (JPM) on Thursday.

CELG is up $2.26 at $110.43 on good volume. Midway through trading Thursday, 4.71 million shares of Celgene Corp. have exchanged hands, as compared to its average daily volume of 6.12 million shares. The stock has ranged in a price between $107.54 to $111.60 after having opened the day at $110.43 as compared to the previous trading day’s close of $108.17.

Over the past year, shares of Summit, New Jersey-based company have traded between a low of $83.16 and a high of $140.72. Shares are up 14.13% year-over-year ; down 3.30% year-to-date.

In a report published Thursday, Citigroup (C) analysts initiated coverage on Skyworks Solutions Inc. (SWKS) with a ‘Buy’ rating and $115 price target.

SWKS shares recently lost $1.54 to $82.67. In the past 52 weeks, shares of Woburn, Massachusetts-based designer of mixed signal semiconductors have traded between a low of $44.06 and a high of $112.88.

Shares are up 46.21% year-over-year and 16.48% year-to-date.

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