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Skyworks Shares Continue Lower Despite 'Buy the Weakness' Call from Sterne Agee

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A Sterne Agee analyst is recommending investors buy the weakness in shares of Skyworks Solutions (NASDAQ: SWKS) Friday following a 6 percent drop on Thursday. The analyst attributed the downside to concerns related to the iPhone 5 supply chain.

The analyst believes Skyworks is "well positioned" for the iPhone 5 and also the new Galaxy S4 ramp.

Sterne Agee maintains a Buy rating and $30 price target on shares of Skyworks.

Investors are shrugging at the analyst note Friday afternoon. Shares of Skyworks are down another 6 percent at last check.

Latest Ratings for SWKS

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

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