Skyworks Shares Continue Lower Despite 'Buy the Weakness' Call from Sterne Agee
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
|Mar 2017||Wells Fargo||Initiates Coverage On||Outperform|
|Jan 2017||Goldman Sachs||Downgrades||Buy||Neutral|
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