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Fly News Breaks for January 24, 2020
SWKS, AVGO
Jan 24, 2020 | 09:03 EDT
Craig-Hallum analyst Anthony Stoss raised his price target for Skyworks (SWKS) to $140 from $125 and reiterated a Buy rating after the company's results and guidance came in above estimates on strong iPhone shipments, ramping 5G phones and strength in its Broad Markets business. Stoss tells investors in ar research note that he thinks shares may take a pause in the near term as investors wait for more clarity surrounding the timeline on when Skyworks will hit its 53% gross margin target. The analyst also notes that while Skyworks could be a potential buyer of Broadcom's (AVGO) RF business, he thinks an acquisition outside of mobile is more likely.
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