Skyworks Upgraded to Outperform - Analyst Blog
2012年5月24日 - 2:03AM
Zacks
We recently upgraded our recommendation on Skyworks
Solutions Inc. (SWKS) to Outperform from Neutral.
Skyworks continues to weather the turbulent economic conditions
well. The company has strategically positioned itself as a
diversified company, and continues to capitalize on three business
segments − mobile Internet, vertical markets and analog components.
The global megatrends of mobile computing and ubiquitous
connectivity continue to be growth engines for Skyworks.
The colossal demand for smartphones continues to drive momentum
for Skyworks, particularly at Nokia Corporation
(NOK) and Apple (AAPL). Skyworks has partnerships
with all leading smartphone vendors, such as RIMM
(RIMM), Motorola (MMI) and Samsung. With a
diversified customer base, Skyworks is strongly placed in this
market.
The market for smartphones is growing four times the growth rate
of the traditional cellular handset. Management expects smartphone
adoption to gain further traction in the developing countries in
2012.
Global adoption of smartphones continues to be robust and is
being rapidly followed by a growing tablet adoption cycle.
Beyond smartphones, growth will be propelled by high
resolution tablets, USB modems, home networks and
yet-to-be-introduced Internet connective devices.
Skyworks continues to benefit from strong underlying demand in
the mobile Internet market driven by market share gains and new
product ramps. Skyworks continues to gain traction on the network
infrastructure side of the mobile Internet connection as operators
install new base stations, new routers, and back-haul equipment to
expand coverage of data services and prepare for next generation
LTE deployments. LTE shipments are expected to grow by leaps and
bounds in 2012.
Meanwhile, estimates have moved down marginally in the last
thirty days even though the company reported in-line results for
the second quarter of 2012, primarily due to the clouded economic
environment.
Nevertheless, we believe the growth story remains intact in the
long run and hence we upgrade our recommendation to Outperform from
Neutral.
The stock carries a Zacks #3 Rank currently which translates
into a short-term rating of Hold, owing to the near-term uncertain
environment.
APPLE INC (AAPL): Free Stock Analysis Report
MOTOROLA MOBLTY (MMI): Free Stock Analysis Report
NOKIA CP-ADR A (NOK): Free Stock Analysis Report
RESEARCH IN MOT (RIMM): Free Stock Analysis Report
SKYWORKS SOLUTN (SWKS): Free Stock Analysis Report
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Skyworks Solutions (NASDAQ:SWKS)
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