UPDATE: D.A. Davidson Raises Price Target On Skyworks Solutions Following Strong F1Q Results

In a report published Friday, D.A. Davidson analyst Thomas Diffely reiterated a Buy rating on Skyworks Solutions Inc (NASDAQ: SWKS), and raised the price target from $85.00 to $95.00.

In the report, D.A. Davidson noted, “F1Q (Dec) results exceed expectations. Revenue of $806 million and pro-forma EPS of $1.26 surpassed both the high end of guidance and the Street mean of $774 million and $1.19. Pro-forma GM of 46.7% increased 80bp sequentially and was modestly above the guidance midpoint of 46.5%. Upside in the quarter was driven by robust mobile demand.”

Skyworks Solutions closed on Thursday at $79.33.