UPDATE: Wells Fargo Starts Skyworks Solutions (SWKS) at Overweight, 'Best-In-Class Content Growth Story'

(Updated - February 10, 2020 5:46 AM EST)

(updating analyst name, comment)

Wells Fargo analyst Gary Mobley initiates coverage on Skyworks Solutions (NASDAQ: SWKS) with a Overweight rating and a price target of $142.00.

The analyst comments "In short, companies such as SWKS specializing in radio frequency front end (RFFE) components stand to benefit from the increased RF complexities of cellular, Wi-Fi, and other IoT radio technologies. This results in higher ($) content per design win, allowing SWKS to grow revenue even in a flat mobile device market. Complementing and coinciding with this, SWKS should continue to benefit from fewer competitors as only the strongest RFFE vendors can address the integration and volume requirements of leading smartphone and IoT device OEMs. With the market consolidating in favor of large players such as SWKS, this should result in additional pricing power and better long-term margin potential."

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 $113.94 yesterday.

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