Market Overview

UPDATE: JMP Reiterates Market Perform on Skyworks Solutions, Says Well-Positioned

Share:
Related SWKS
1 Wall Street Analyst Is Watching 5 Tech Stocks Post-Mobile World Congress
Skyworks Solutions: 5 Reasons To Stay Positive Offered By Bank Of America
Comparing America's Next 3 Integrated Circuits Semiconductor Companies (Seeking Alpha)

In a report published Monday, JMP Securities analyst Alex Gauna reiterated Market Perform on Skyworks Solutions, Inc. (NASDAQ: SWKS), with a $40.00 price target.

According to the report, the reiteration followed favorable CEW checks ahead of its F1Q14 earnings report scheduled for this Thursday, Jan. 16 AMC.

“We learned from a well-positioned private company in the wireless space that competing RF360 technology from Qualcomm is not making significant design win inroads in the space. We expect solid iPhone sales trends, deployment of the build cycle for the China Mobile commencement of 4G LTE-TDD services that includes the iPhone and Samsung Galaxy platforms, and the proliferation of global 4G LTE services, in general, to allow Skyworks to meet or exceed our December quarter non-GAAP EPS estimate of $0.67 (Street $0.66) and likely guide above our March quarter estimate of $0.58 (Street $0.57). Our $40 price target based on a 13x PE/CY15 multiple we view as an appropriate 1x PEG to its low- to mid-teens growth rate and also relative to our coverage universe mean in the mid-to-high teens.”

SWKS closed Friday at 29.08 with shares trading up at 4.79 percent.

Latest Ratings for SWKS

DateFirmActionFromTo
Mar 2015Topeka CapitalMaintainsBuy
Mar 2015Canaccord GenuityMaintainsBuy
Jan 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for SWKS
View the Latest Analyst Ratings

Posted-In: Alex Gauna JMP SecuritiesAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SWKS)

Around the Web, We're Loving...