Needham Downgrades Skyworks Solutions (SWKS) to Hold

Article Stock Quotes (1) Comments (0)

Needham & Company downgraded Skyworks Solutions (NASDAQ: SWKS) from Buy to Hold Thursday morning following Wednesday evening's Q3 results and Q4 guidance.

The firm noted Skyworks beat despite "a very challenging macroeconomic environment..." Needham's downgrade was based on the Skyworks' stock price approaching its prior $30 price target, "and with the change to our CY13 non-GAAP EPS estimate not meaningful enough to justify a significantly higher price target." The firm pointed to limited leverage on sales growth.

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

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: MKM Partners Downgrades Alkermes (ALKS) to Sell
• Baird Downgrades Titan Machinery (TITN) to Neutral
• Goldman Sachs Downgrades Aixtron (AIXG) to Neutral

Create E-mail Alert Related Categories

Downgrades

Related Entities

Needham & Company

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?