Skyworks To Continue To Soar (SWKS)

Suji De Silva, analyst at Kaufman Bros., has maintained a Buy rating on semiconductor major Skyworks Solutions Inc. (NASDAQ: SWKS) with a price target of $16.00.

Skyworks derives 75% of its revenues from wireless semiconductor products and counts all Tier-I handset manufacturers as its customers. 25% of its revenues come from multi-market linear products targeting a diverse set of industries like, but not restricted to, auto, broadband and medical end markets.

Skyworks reported Q1 2010 revenues of $245 million beating consensus estimates. The company has been steadily improving its market position in its flagship handset business. An added boost is the robust performance of its non handset business.