UPDATE: DA Davidson Raises Target to $32 on Skyworks Solutions

DA Davidson raises its target price to $32 from $27 on Buy-rated Skyworks Solutions

as the company is seen to be well-positioned for further growth with key design wins. DA Davidson says, "After having the chance to meet with Skyworks and many of their competitors, we are confident the company is on track for a strong calendar year. Skyworks has been increasing its exposure to Samsung, and we expect the company to be well represented in the Galaxy SIII. With Qualcomm (QCOM*-BUY-$63.93), we believe Skyworks has the most detailed roadmap for the MSM8960 and should see ~$2-$3 per handset utilizing the solution. Recent rumors of yield issues for the 28nm product at TSMC (TSM-$14.60) do create a point of concern. However, we feel that even if true, the impact on Skyworks will not be substantial." SWKS closed at $26.90 a share on Friday.