Skywork (SWKS) PT, Estimates Lifted at BofA/Merrill Lynch on Strong Q4 and Guidance

BofA/Merrill Lynch analyst Vivek Arya reiterated a Buy rating and boosted his price target on Skyworks Solutions (NASDAQ: SWKS) to $75.00 (from $65.00) following solid Q4 results and Q1 guidance which implies 52% YoY sales growth and is $30mn/8c
above-consensus sales/EPS est.

"Channels remain lean and inventory build suggests good multi-quarter visibility," the analyst said.

The firm raised FY15/16E EPS by 8% each to $4.51/$5.02.

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 $62.14 yesterday.

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