Skyworks (SWKS) PT Goes to $60 at BofA/Merrill Lynch on Strong Q3

BofA/Merrill Lynch analyst Vivek Arya reiterated a Buy rating and boosted his price target on Skyworks Solutions (NASDAQ: SWKS) to $60.00 (from $55.00) following strong Q2 results and outlook.

Arya said the believe consensus remains fixated on units and is completely missing the megatrends of: 1) 8x-10x RF content expansion from 2G to 3G/4G; 2) Increasing complexity and industry consolidation driving better pricing; and 3) Expanding TAM into connected home/autos/industrial applications; and 4) Skyworks management gold standard of consistent execution.

The firm lifted FY14/15E EPS by 16c/34c to $3.12/$3.86

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 $46.34 yesterday.

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