Skyworks (SWKS) Price Target Raised to $125 at BofA/ML

BofA/Merrill Lynch maintained a Buy rating on Skyworks Solutions (NASDAQ: SWKS) and raised its price target to $125.00 (from $115.00). Analyst Vivek Arya has increased confidence in trends in the second half of the year following a 100% dividend increase. The analyst sees multiple expansion given sustainability of EBITDA growth, projected at 20-22% annually. The analyst also noted strong FCF, a clean balance sheet, and accretive M&A 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 $109.98 yesterday.

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