Topeka Capital Lifts PT on Skyworks (SWKS) on Strong Q1, Outlook
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Price: $22.64 -1.95%
Rating Summary:
16 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
16 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SWKS Now!
Topeka Capital raised its price target on Buy-rated Skyworks Solutions (NASDAQ: SWKS) from $26 to $28 following solid Q1 results and guidance after the close.
The firm comments, "We believe that Skyworks' F1Q results clearly demonstrate that the Company continues to strengthen its leadership in the RF market for handsets. Furthermore, with revenue growth drivers intact, SWKS appears to be on a path to achieve its mid-term operating margin target of 30%, which could result in annual EPS of $3.00. With improving visibility into growth trends, SWKS' valuation multiple should expand and the stock should regain its momentum. These results further dispel concerns regarding SWKS' share at various OEMs. On the contrary, the results appear to support our view that given its scale, broad product portfolio, and technology leadership, SWKS will continue to remain the key technology partner for the baseband providers and OEMs."
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, with a 52 week range of $19.21-$31.44.
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The firm comments, "We believe that Skyworks' F1Q results clearly demonstrate that the Company continues to strengthen its leadership in the RF market for handsets. Furthermore, with revenue growth drivers intact, SWKS appears to be on a path to achieve its mid-term operating margin target of 30%, which could result in annual EPS of $3.00. With improving visibility into growth trends, SWKS' valuation multiple should expand and the stock should regain its momentum. These results further dispel concerns regarding SWKS' share at various OEMs. On the contrary, the results appear to support our view that given its scale, broad product portfolio, and technology leadership, SWKS will continue to remain the key technology partner for the baseband providers and OEMs."
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, with a 52 week range of $19.21-$31.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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