Skyworks Solutions (SWKS) PT Lifted to $120 at Brean Capital

Brean Capital analyst Mike Burton reiterated a Buy rating and boosted his price target on Skyworks Solutions (NASDAQ: SWKS) to $120.00 (from $110.00).

Burton commented, "Skyworks reported its 9th straight beat and raise last night, delivering solid June Q results and issuing guidance well above Street Consensus on strength across the board. 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. We are increasing our estimates and raising our target price from $110 to $120; reiterate Buy."

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 $103.12 yesterday.

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