Oppenheimer Assumes Skyworks Solutions (SWKS) at Outperform

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Oppenheimer assumed coverage on Skyworks Solutions (NASDAQ: SWKS) Tuesday with a Outperform rating and $32 price target.

The firm comments, "SWKS is the most diversified among PA peers across OEMs and baseband partners. As such, we believe SWKS is best positioned to capitalize on the rising complexity of the RF front-end in next generation wireless devices. SWKS's system-level expertise affords material content expansion in WiFi (802.11ac), switching, antenna tuning and power management. We believe the company is well positioned to maintain/bolster its position in upcoming AAPL product refreshes and with management still committed to its mid-term margin targets, we remain bullish on shares."

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 $24.50 yesterday, with a 52 week range of $19.21-$31.44.

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