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Brean Capital Weighs In on Skyworks Solutions Inc (SWKS) Following Preliminary Q3:15 Results and PMC-Sierra Acquisition

In a research report released today, Brean Capital analyst Mike Burton reiterated a Buy rating on shares of Skyworks Solutions Inc (NASDAQ:SWKS), while reducing the price target to $100 (from $120), which represents a potential upside of 22% from where the stock is currently trading. The report comes after the company announced its intent to acquire PMC-Sierra, and following the company’s preliminary third-quarter results, which were slightly ahead of the Street’s consensus.

Burton observed, “We estimate the acquisition will diversify Skyworks’ revenues exposure to mobile (and Apple AAPL $111.31, Buy in particular) from...