Cantor Fitzgerald Raises Price Target on Skyworks Solutions (SWKS) After Talks with CEO, Notes Co. is Undervalued
Tweet
Share
E-mailGet Alerts SWKS Hot Sheet
Price: $67.94 --0%
Rating Summary:
19 Buy, 26 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
19 Buy, 26 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Join SI Premium – FREE
Cantor Fitzgerald is maintaining its Buy rating on shares of Skyworks Solutions (NASDAQ: SWKS) and is raising its price target from $33 to $36 following a day of marketing with the CEO Dave Aldrich.
The firm notes Dave was more than he has been in the past several years as he was "extremely confident in his outlook, strategy, and business model."
Dave highlighted the company continues to gain market share at all major mobile device manufactures expect for Apple (Nasdaq: AAPL). Cantor Fitzgerald believes the launch of the iPhone 5 will significantly increase the company's market share from the iPhone 4S.
Since the iPhone 5 is looking to launch later than originally forecasted, the firm has lowered its FY12 EPS estimate from $2.01 to $1.91 and its revenue estimate from $1.611 billion to $1.569 billion. Cantor Fitzgerald also announced it is forecasting EPS of $2.28 on $1.805 billion.
"We believe that one of the largest potential opportunities for SWKS over the next two years is the growth of 802.11ac. Compared to 802.11n, where routers typically had 2 antenna/switch/PA assemblies, the company is currently working on designs that have up to 7 antenna/switch/PA assemblies. This could move the SWKS content per router up to the $9-$10 range," reports an analyst at Cantor Fitzgerald. "We believe that investors may be underestimating the potential for the company as 802.11ac proliferates."
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 $24.85 yesterday.
The firm notes Dave was more than he has been in the past several years as he was "extremely confident in his outlook, strategy, and business model."
Dave highlighted the company continues to gain market share at all major mobile device manufactures expect for Apple (Nasdaq: AAPL). Cantor Fitzgerald believes the launch of the iPhone 5 will significantly increase the company's market share from the iPhone 4S.
Since the iPhone 5 is looking to launch later than originally forecasted, the firm has lowered its FY12 EPS estimate from $2.01 to $1.91 and its revenue estimate from $1.611 billion to $1.569 billion. Cantor Fitzgerald also announced it is forecasting EPS of $2.28 on $1.805 billion.
"We believe that one of the largest potential opportunities for SWKS over the next two years is the growth of 802.11ac. Compared to 802.11n, where routers typically had 2 antenna/switch/PA assemblies, the company is currently working on designs that have up to 7 antenna/switch/PA assemblies. This could move the SWKS content per router up to the $9-$10 range," reports an analyst at Cantor Fitzgerald. "We believe that investors may be underestimating the potential for the company as 802.11ac proliferates."
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 $24.85 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lowe's (LOW) PT Lowered to $275 at Guggenheim
- MDxHealth SA (MDXH) PT Lowered to $2 at BTIG
- Freedom Broker Upgrades Taylor Devices, Inc. (TAYD) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Cantor FitzgeraldSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
