After Raymond James and Canaccord Genuity gave Skyworks Solutions (NASDAQ: SWKS) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Vijay Rakesh maintained a Buy rating on Skyworks Solutions yesterday and set a price target of $112.00. The company’s shares closed last Monday at $99.62.
According to TipRanks.com, Rakesh is a 5-star analyst with an average return of 14.7% and a 56.8% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Texas Instruments.
Currently, the analyst consensus on Skyworks Solutions is a Moderate Buy with an average price target of $111.40.
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Based on Skyworks Solutions’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $896 million and net profit of $257 million. In comparison, last year the company earned revenue of $972 million and had a net profit of $285 million.
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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. The company was founded in 1962 and is headquartered in Woburn, MA.
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