Market Overview

UPDATE: D.A. Davidson Reiterates On Skyworks Solutions As Business Trends Surpass All Expectations

Share:
Related SWKS
Mizuho Initiates On Semiconductors; Sector Is Moving
Benzinga's Top Initiations
Come And Get Em: 6 Leading Growth Stocks In Or Near Buying Range (Investor's Business Daily)

In a report published Friday, D.A. Davidson & Co. analyst Thomas Diffely reiterated a Buy rating on Skyworks Solutions (NASDAQ: SWKS), and raised the price target from $55.00 to $65.00.

In the report, D.A. Davidson & Co. noted, “SWKS is guiding revenue of $670-$690 million (+16% q/q) and pro-forma EPS of $1.00, significantly above the Street mean of $607 million and $0.87 per share, respectively. Pro-forma GM is expected at 45.5%-46.0%. The magnitude of the F4Q guide illustrates the company firing on all cylinders. The core PA business is ramping due to Apple's (AAPL - $93.09) upcoming iPhone 6 launch, ongoing 4G LTE buildout in China and even 3G upgrade cycles in some emerging economies. All of these trends are big drivers for SWKS. The Integrated Mobile business is benefiting from broad-based content gains and rising device complexity, and the ongoing adoption of 802.11ac. Finally, the proliferation of connectivity (Internet of Things - IoT) continues to drive the high margin Broad Markets segment.”

Skyworks Solutions closed on Thursday at $46.34.

Latest Ratings for SWKS

DateFirmActionFromTo
May 2015Mizuho SecuritiesInitiates Coverage onBuy
May 2015BarclaysMaintainsEqual-weight
May 2015Canaccord GenuityMaintainsBuy

View More Analyst Ratings for SWKS
View the Latest Analyst Ratings

Posted-In: D.A. Davidson & Co. Thomas DiffelyAnalyst Color Price Target Analyst Ratings

 

Related Articles (SWKS)

Around the Web, We're Loving...

Get Benzinga's Newsletters