UPDATE: Canaccord Genuity Starts Skyworks Solutions (SWKS) at Buy; Continuing To Execute

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(Updated - June 22, 2012 8:31 AM EDT)

Canaccord Genuity initiates coverage on Skyworks Solutions (NASDAQ: SWKS) with a Buy. PT $33.00.

Analyst, T. Michael Walkley, said, "We believe Skyworks has the broadest RFIC customer base and is growing its overall RF content share in the smartphone market and adjacent wireless connectivity markets such as M2M and WiFi. Further, we believe Skyworks’ management team will continue to execute and deliver sustained industry-leading profits. With our checks indicating Skyworks supplies most of the top-selling global smartphones and our belief the growing mix of 3G and 4G smartphones will drive strong growth for the RFIC TAM and Skyworks’ long-term earnings growth."

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 $26.66 yesterday, with a 52 week range of $13.72-$29.09.

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