Brean Capital analyst Mike Burton weighed in today with a favorable report on Skyworks Solutions Inc (NASDAQ:SWKS) after the company reported strong Q3/F2015 results and provided Q4/F2015 guidance above consensus expectations. The analyst reiterated a Buy rating on SWKS, while raising the price target to $120 (from $110), which represents a potential upside of 21% from where the stock is currently trading.
In his research note, Burton noted, “We believe that the strength of the results and guidance is being driven by the increasing dollar content SWKS is seeing across its customer base (and notably at Apple AAPL $125.16, Buy). SWKS has consistently delivered above-industry growth in revenues at industry-leading operating margins. In addition to the growing RF and Analog opportunity in Mobile, the Company’s underappreciated Broad Markets segment accounted for 23% of revenues in June and is growing 20%-25% per year.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Mike Burton has a total average return of 19.2% and a 61.0% success rate. Burton has a 83.8% average return when recommending SWKS, and is ranked #199 out of 3714 analysts.
Out of the 20 analysts polled by TipRanks, 17 rate Skyworks Solutions stock a Buy, while 3 rate the stock a Hold. With a return potential of 1.7%, the stock’s consensus target price stands at $101.