Canaccord Genuity Boosts Price Target on Skyworks Solutions (SWKS) to $31

January 31, 2013 11:45 AM EST
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Price: $78.33 --0%

Rating Summary:
    24 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 6
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Canaccord Genuity raised its price target on Skyworks Solutions (NASDAQ: SWKS) from $30 to $31 following strong Q1 results and Q2 outlook.

The firm comments: "Skyworks reported Q1/F2013 results and provided Q2/F2013 guidance above our and consensus estimates. We believe Skyworks' strong product portfolio is well positioned to hold strong share in leading LTE smartphone platforms and in the broader handset RFIC market, where we anticipate solid growth due to a greater LTE smartphone mix. Given Skyworks' R&D breadth, we believe the HPA portfolio is well positioned to grow Skyworks' content within its traditional handset base and expand Skyworks' share in markets such as wireless infrastructure, 802.11ac WiFi, and many M2M verticals."

The firm raised F2013E pro forma EPS from $2.08 to $2.16 and our F2014E from $2.52 to $2.62.

For an analyst ratings summary and ratings history on Skyworks Solutions click here. For more ratings news on Skyworks Solutions click here.

Shares of Skyworks Solutions closed at $21.56 yesterday.

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