Oppenheimer maintains its Outperform rating on Skyworks Solutions SWKS as a solid quarter shows thesis on the company is still intact. Price target os lowered to $25 on multiple compression given headwinds on macro factors.
Oppenheimer says, " We would remain buyers given favorable RF trends and our comfort that management will continue to execute at a high level. The key drivers are share gains and increased complexity within cellular and TAM/customer expansion in HPA (organically and with the recent
SiGe and AATI acquisitions)."
SWKS closed at $19.23 per share on Thursday.
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