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   Technology StocksSWKS - Skyworks Solutions, Inc (was AHAA)


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From: mlc17812/24/2020 8:06:33 PM
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Skyworks price target raised at Cowen on 5G growth, upside Apple content gains
Dec. 22, 2020 11:46 AM ET Skyworks Solutions, Inc. (SWKS) By: Brandy Betz, SA News Editor

Noting that the 5G growth story is still in its early innings, Cowen maintains an Outperform rating on Skyworks Solutions (NASDAQ: SWKS) and raises the price target from $160 to $185.

Analyst Karl Ackerman writes that "investors are missing content gains at Apple and upside to production" with the content gains potentially "much higher than current expectations.

"The analyst notes that the broader industry is undergoing the "once-in-a-decade shift to 5G.

"Skyworks shares are up 2% to $150.71.

Skyworks derives more than half of its revenue from Apple and is among the supply chain names moving on Apple's reported self-driving vehicle efforts.

Previously: Apple said to be pushing ahead on self-driving car in challenge to Tesla (Dec. 21 2020)

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From: mlc1781/29/2021 9:56:29 AM
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Skyworks Pops 15% After-Hours As 1Q Sales Beat Analysts’ Estimates
From smarteranalyst.com.
Fri, January 29, 2021

Shares of Skyworks Solutions gained by around 15% in Thursday’s extended market trading session after the semiconductor company posted record revenues in 1Q21.

The company’s revenue in 1Q jumped 69% to $1.5 billion year-on-year, beating analysts’ estimates of $1.06 billion. Skyworks (SWKS) recorded earnings of $3.36 per share that came in ahead of analysts’ expectations of $2.08 per share.

Skyworks CEO Liam K. Griffin said, “Skyworks delivered all-time record quarterly results, leveraging our expansive technology reach. Demand for our proven solutions continues to accelerate across a growing set of customers and end markets, powering the world’s most impactful use cases, from 5G mobile platforms to IoT, wireless infrastructure, autonomous transport and machine-to-machine installations.”

“Importantly, the multi-year wireless transition is now underway, creating a burgeoning set of new opportunities. With deep customer engagements, underpinned by decades of technology investments and scale, Skyworks is uniquely positioned to lead,” Griffin added.

Separately, the company also announced a share repurchase program worth $2 billion. Skyworks expects to fund the share repurchase through its working capital and as of Jan. 1, it had cash and marketable securities of $1 billion. The company will repurchase shares from time to time through Jan. 26, 2023. (See Skyworks Solutions stock analysis on TipRanks)

In the second quarter, Skyworks expects revenues to be between $1.1 billion and $1.2 billion. The company projects to post non-GAAP diluted earnings of $2.34 per share in 2Q.

Following the earnings results, Oppenheimer analyst Rick Schafer assigned a Hold rating on the stock.

“We attribute surprising upside to robust iPhone12 demand, where we estimate SWKS content up ~30%. Apple was a 70% customer in F1Q (from 60%). SWKS also accelerated Sky5 platform sales to Samsung and China ‘VOX’ OEMs [original equipment manufacturer],” Schafer wrote in a note to investors.

“We believe mgmt leveraged SWKS internal TC-SAW/BAW [surface acoustic wave and bulk acoustic wave] capacity to meet upside as demand signals strengthened into December. RF [Radio frequency] content/ complexity increases 5G/4G led by filters. We forecast 5G RF content CAGR of 10% over the next several years and see SWKS positioned to benefit.” the analyst added.

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 13 analysts recommending a Buy and 7 analysts suggesting a Hold. The average analyst price target of $176.18 implies 10.3% upside potential to current levels.

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