Market Overview

UPDATE: Bank of America Raises PT to $36 on Skyworks Solutions; Catalysts Ahead

Share:
Related SWKS
Using Apple Suppliers' Results, Wells Fargo Sees iPhone Sales Increasing
12 Biggest Mid-Day Losers For Friday
Cirrus Logic Rockets To 21-Year High On Estimated 40% Apple iPhone 7 Gain (Investor's Business Daily)

Bank of America reiterated its Buy rating on Skyworks Solutions (NASDAQ: SWKS) and increased its price target from $34 to $36.

Bank of America noted, "We reiterate Buy on our top SMid-cap growth pick Skyworks, leader in RF chips tied to smartphone growth and the move to higher-value 4G/LTE mobile devices. Four catalysts in September: 1) Apple iPhone 5 newsflow; 2) Samsung Galaxy S3 ramps; 3) Sep 20th analyst day with potential upside to Sep Q est.; and 4) Q4 inflexion point in higher-value 4G LTE adoption. We raise FY12/13 EPS above Street to $1.89/$2.21 from $1.87/$2.17 and our PO to $36 from $34."

Skyworks Solutions closed at $29.24 on Wednesday.

Latest Ratings for SWKS

DateFirmActionFromTo
Jul 2016Pacific CrestDowngradesOverweightSector Weight
Jul 2016Mizuho SecuritiesDowngradesBuyNeutral
Jun 2016Morgan StanleyInitiates Coverage onUnderweight

View More Analyst Ratings for SWKS
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (SWKS)

View Comments and Join the Discussion!