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Fly News Breaks for November 13, 2019
SWKS
Nov 13, 2019 | 08:08 EDT
Needham analyst Rajvindra Gill raised his price target on Skyworks to $120 and kept his Buy rating after its "beat and raise" results. The analyst says the quarter was driven by expanded mobile and non-mobile 5G engagements, with higher-margin Broad Markets products also showing strength thanks to the secular growth drivers like Wi-Fi 6 and 5G technologies. Gill notes that expectations were already high and the stock may see some profit taking, but he is encouraged with the company's design activity.
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