Skyworks Solutions Inc (NASDAQ:SWKS), on Thursday, reported upbeat earnings for its fourth quarter, but issued weak revenue forecast for its fiscal first quarter.
Revenue came in at $1.219 billion, beating estimates of $1.216 billion. The company posted earnings of $2.20 per share, topping expectations of $2.10 per share.
Skyworks said sees fiscal first-quarter revenue in the range of $1.175 billion to $1.225 billion versus estimates of $1.29 billion. The company expects adjusted earnings of $1.95 in the first quarter.
Skyworks shares gained 1.2% to trade at $90.53 on Friday.
These analysts made changes to their price targets on Skyworks following earnings announcement.
- Keybanc lowered the price target on Skyworks from $130 to $120. Keybanc analyst John Vinh maintained an Overweight rating.
- Morgan Stanley cut the price target on Skyworks from $112 to $95. Morgan Stanley analyst Joseph Moore maintained an Equal-Weight rating.
- Susquehanna cut the price target on Skyworks from $115 to $110. Susquehanna analyst Christopher Rolland maintained a Positive rating.
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