Skyworks Gains Share With Apple

Analysts at Oppenheimer & Co reiterate their "outperform" rating on Skyworks Solutions Inc (NASDAQ:

), while raising their estimates for the company. The target price for SWKS has been raised from $19 to $20. According to Oppenheimer & Co, “The first tear-downs of the iPhone 4 show Skyworks has gained share with Apple. In addition to the quad-band GSM/EDGE PA Skyworks already has on the iPhone 3GS, Skyworks has added two PAs.” “We believe the new parts are 3G PAs, although they appear to be iPhone 4-specific and can't be cross-referenced with Skyworks' part catalog… Assuming no change to volumes, we believe the win could add $100M in sales and $0.13 of EPS annually. We continue to be positive on SWKS with the outlook suggesting more share gains, expanding TAM and content gains,” the analyst say. Oppenheimer & Co has raised its EPS estimate for 2010 from $1.13 to $1.15.