- The shares of Skyworks Solutions Inc (NASDAQ: SWKS) have received a price target increase from $188 to $205. These are the details.
The shares of Skyworks Solutions Inc (NASDAQ: SWKS) have received a price target increase from $188 to $205. And JPMorgan has a “Neutral” rating on the Skyworks shares.
Skyworks had reported its third fiscal quarter recently. For the quarter, Skyworks reported it nearly doubled its earnings to $325 million (or GAAP earnings of $1.95 a share) and adjusted earnings of $2.37 per share. And the company’s revenue increased 53% to $1.17 billion.
Following the quarterly earnings report, a number of brokerages had increased their price targets on Skyworks shares.
“We continue to expect a reacceleration in the back half of the year as we expect the company to benefit from RF content gains at Apple and other smartphone customers as we move through the remainder of the year,” says the note from JPMorgan via The Street. “Skyworks continues to benefit from strong Wi-Fi demand and the company is poised to benefit from the Silicon Labs’ Infrastructure & Automotive (I&A) asset purchase later this year on strong EV, data center and 5G infrastructure demand.”
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