In a report released today, Vijay Rakesh from Mizuho Securities maintained a Hold rating on Skyworks Solutions (SWKS), with a price target of $89. The company’s shares closed yesterday at $90.79.
“We believe the 2H19 handset market could be weaker y/y with lower iPhone builds and a potential China handset slowdown after a strong 1H build In 2020, we believe ramps of 5G and a smartphone refresh could be opportunities. Adjusting estimates, maintaining Neutral rating and $89 PT on potentially increased competition from Murata and QCOM RF360.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 22.8% and a 63.7% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Cypress Semicon, and Western Digital.
Skyworks Solutions has an analyst consensus of Moderate Buy, with a price target consensus of $92.31, implying a 1.7% upside from current levels. In a report released today, Oppenheimer also assigned a Hold rating to the stock.
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The company has a one-year high of $104.20 and a one-year low of $60.12. Currently, Skyworks Solutions has an average volume of 1.71M.
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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, receivers, switches, and technical ceramics. It operates through the following geographic areas: United States; China; South Korea; Taiwan; Europe, Middle East, and Africa; and Other Asia-Pacific. The company was founded in 1962 and is headquartered in Woburn, MA.