Skyworks Solutions Received its Third Buy in a Row


After Loop Capital Markets and B.Riley FBR gave Skyworks Solutions (NASDAQ: SWKS) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Rick Schafer assigned a Buy rating to Skyworks Solutions (NASDAQ: SWKS) today and set a price target of $120. The company’s shares closed yesterday at $99.76.

Schafer observed:

“Skyworks reports F3Q (June) results after the close Thurs (7/19). We see a modest beat/raise vs. consensus sales/EPS of $889M/$1.60E and F4Q (Sept) $1B/$1.88E as content gains and the iPhone refresh cycle likely offset disappointing GS9 units and heightened geopolitical risk. China smartphone and the end of the ZTE ban appear as added tailwinds looking into F4Q. Investor focus will likely center on mgmt’s expectations for iPhone content-driven growth in C2H. We expect the broad markets segment (27%) up double digit (%). SWKS remains ideally positioned to benefit from rising RF content/complexity in wireless and IoT as the market begins to deploy 5G. A pristine balance sheet and standout FCF add to the bull thesis. We remain buyers with a $120 target.”

According to TipRanks.com, Schafer is a 5-star analyst with an average return of 16.5% and a 69.9% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as NXP Semiconductors, Texas Instruments, and Maxim Integrated.

Skyworks Solutions has an analyst consensus of Strong Buy, with a price target consensus of $115.42, implying a 15.7% upside from current levels. In a report issued on July 12, Loop Capital Markets also maintained a Buy rating on the stock with a $130 price target.

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Skyworks Solutions’ market cap is currently $18.17B and has a P/E ratio of 21.18. The company has a Price to Book ratio of 4.46.

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Skyworks Solutions, Inc. engages in the design, development, and manufacture of proprietary semiconductor products. Its product portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, power management devices, receivers, switches, and technical ceramics. The company was founded in 1962 and is headquartered in Woburn, MA.

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