Drexel Hamilton Reiterates Buy on Skyworks Solutions (SWKS) Following 4Q Beat and Raise
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Drexel Hamilton reiterated a Buy rating and $90.00 price target on Skyworks Solutions (NASDAQ: SWKS) following the company's 4Q report. SWKS turned in revenue of $835.4 million, exceeding the Street's consensus of $831.3 million. EPS of $1.47 also beat the Street's consensus of $1.43. For the December quarter, Skyworks is guiding sales to be in a range of $894-$911 million, compared to the Street's $893 million. EPS is guided to $1.58, compared to the Street consensus of $1.56.
Analyst Cody Acree commented, "After several quarters of in-line or softer results and guidance, largely driven by the slowing of smartphone unit growth and the resulting excess handset inventories, Skyworks posted its first solid and inarguable beat and raise of the year."
Shares of Skyworks Solutions closed at $74.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
- Jefferies Raises Price Target on Broadcom Ltd. (AVGO) to $210 Following 4Q
- MKM Partners Raises Price Target on Hartford Financial (HIG) to $55
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesDrexel Hamilton
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!