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SWKS - Skyworks Solutions Inc News Story

$162.97 -1.2  -0.7%

Last Trade - 18/05/21

Sector
Technology
Size
Large Cap
Market Cap £19.17bn
Enterprise Value £18.17bn
Revenue £3.10bn
Position in Universe 468th / 6846

BUZZ-Skyworks Solutions: Scales record high as brokerages raise PTs after results

Fri 29th January, 2021 4:08pm
** Shares of chipmaker  SWKS.O  rise as much as 17.8% to a
record high of $188.34     
    ** At least 12 brokerages raise PTs for stock after co on
Thursday beat expectations for Q1 revenue and forecast Q2 sales
above estimates  urn:newsml:reuters.com:*:nASA01NLX
    ** "The company is benefiting from strong 5G traction, with
management noting trends accelerated throughout the December
quarter," says Piper Sandler, raising PT to $220 from $160
    ** Brokerage Rosenblatt Securities, which hikes PT by $50 to
$240, says demand was clearly driven by all four successful
iPhone 12 launches
    ** SWKS outlook should also be a strong positive for
Broadcom Inc  AVGO.O  and Qualcomm Inc  QCOM.O , Mizuho says
    ** Current avg. rating of 29 analysts on stock is "buy" and
median PT is $195 - Refinitiv data
    ** Up to Thursday's close, stock had risen ~33% in last 12
months

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))
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