Skyworks Solutions (SWKS) Stock Lower, Mizuho Cuts Rating

Skyworks Solutions (SWKS) stock rating was cut to 'neutral' at Mizuho Securities.
By Natalie Walters ,

NEW YORK (TheStreet) -- Shares of Skyworks Solutions (SWKS) - Get Report are down 0.85% to $62.74 in early afternoon trading as the company's rating was cut earlier today to "neutral" from "buy" at Mizuho Securities USA

Additionally, the Woburn, MA-based semiconductor company's price target was lowered to $68 from $99. 

Mizuho analyst Vijay Rakeshis says Skyworks could benefit from the iPhone 7 (AAPL), which is expected to be released in September. 

"We believe SWKS should see strength with the Huawei ramps as a key supplier, and should also see strength with the iPhone 7 ramp, but we believe it needs to diversify as the core handset market (~75% of revenue) slows with increasing penetration and potential demand uncertainty" said Mr. Rakeshis in an analyst note this morning. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate SKYWORKS SOLUTIONS INC as a Buy with a ratings score of B. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

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