Mizuho Securities Says 'Technical Chart Call' on Skyworks Solutions (SWKS) Has no Fundamental Basis; Reiterates Buy

Mizuho Securities maintains a Buy rating and $115.00 price target on Skyworks Solutions (NASDAQ: SWKS), and would remain buyers on any pullback that stems from a 'technical chart call" from a competitor yesterday. Analyst Vijay Rakesh says that SWKS could be off Tuesday due to the 'technical chart call', and that it lacks any fundamental basis.

Rakesh commented, "We are buyers on SWKS on any pullback. Besides the macro concerns, SWKS could be off today based on a "technical chart call" from a competitor after the close yesterday that lacked any fundamental reasons. We are buyers given: 1) Apple is a 35-40% customer and positions well into 2H15; 2) SWKS has the lowest 2H15/1H15 Factset consensus revenue growth expectations among all its RF peers; and 3) Our recent Taiwan visits have pointed to a 2H15 strength in the iPhone supply chain."

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 $110.28 yesterday.

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