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

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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
Aug 2014Canaccord GenuityMaintainsBuy
Jul 2014Tigress FinancialDowngradesStrong BuyBuy
Jul 2014BarclaysMaintainsEqual-weight

View More Analyst Ratings for SWKS
View the Latest Analyst Ratings

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

 

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