Oppenheimer Reports on Skyworks Solutions

Oppenheimer commented on Skyworks Solutions SWKS in a report released yesterday. In the report, Oppenheimer was positive in its assessment of the company. Oppenheimer writes, "We come away from investor meetings with Skyworks' management more comfortable that overall business trends are intact. Our own checks suggest room for upside given Skyworks' OEM exposure and we believe investor concerns regarding Apple are starting to flush out. We view management's affirmation of moderate-term goals in September (annualized $1.5B revenue & $2.00 of EPS) as a sign that no significant negative share shifts are transpiring. We don't believe this possible if Apple were completely lost as a customer." Oppenheimer currently has an Outperform rating on Skyworks Solutions and a price target of $34. Shares of Skyworks Solutions closed at $24.42 on Wednesday.