WestPark Capital reiterates Buy on Skyworks Solutions, raises PT to $5.22.

WestPark Capital reiterates Buy on Skyworks Solutions, raises PT to $5.22.

Skyworks Solutions (SWKS) has received a boost from WestPark Capital, which reiterated its Buy rating on the semiconductor company and raised its price target to $5.22. The new rating comes amidst a mixed landscape of analyst opinions, with a majority of analysts maintaining a Hold rating, while others have initiated Sell ratings.

According to TipRanks [1], the average 12-month price target for Skyworks Solutions is $69.69, with a high forecast of $85.00 and a low forecast of $52.00. The company's stock has faced declining revenue and high valuation, offset by a robust balance sheet and positive earnings outlook. Analysts have noted challenges in the mobile segment and competitive pressures as key concerns.

WestPark Capital's latest recommendation follows a period of mixed analyst sentiment. In the past three months, Skyworks Solutions has received 19 analyst ratings, with 13 Hold ratings, 5 Sell ratings, and 1 Buy rating. The company's earnings forecast for the next quarter is $1.24, with sales forecasted at $940.85 million.

Despite the challenges, Skyworks Solutions has maintained a balanced outlook, with analysts acknowledging the company's strong shareholder returns and diversified business growth. The recent rating from WestPark Capital could provide a positive signal for investors, but it is essential to consider the broader market trends and analyst consensus.

References:

[1] https://www.tipranks.com/stocks/swks/forecast