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Bank of America’s Favorite Semiconductor Stocks

PART:
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Part 5
Bank of America’s Favorite Semiconductor Stocks PART 5 OF 5

What Bank of America Thinks about Skyworks Solutions

Bank of America on Skyworks Solutions

Bank of America Merrill Lynch (BAC) has shared a positive view on Skyworks Solutions (SWKS). The investment firm believes Skyworks Solutions’ sales growth will improve gradually.

What Bank of America Thinks about Skyworks Solutions

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BAC wrote that Skyworks “10%+ sales growth in 2017/18 which is 2x-3x broader semiconductors industry, one of the most consistent record of execution in semis, [and] early leadership in large and growing $10bn TAM in IoT [internet of things].”

Skyworks Solutions manufactures, develops, and markets various semiconductor products. According to BAC, Skyworks Solutions could experience higher sales growth in the upcoming year and could beat the sales growth of the semiconductor industry, which would be a major driver for the company.

Skyworks Solutions is currently trading at a forward PE (price-to-earnings) multiple of 14.8x, while the semiconductor industry is at 20.9x. The one-year EPS (earnings per share) growth rate for Skyworks Solutions is 15.9%, while the semiconductor industry is at 37.1%, the broader market S&P 500 index (SPY) is at 16.3%, and the technology sector (XLK) is at 16.8%.

Skyworks Solutions’ performance

Skyworks Solutions has risen 39.8% on a year-to-date basis as of October 10, 2017. Over the past year, the stock has risen 30.2%. The broader market S&P 500 index (SPY) has risen 19.5% over the same period. Bank of America Merrill Lynch has given it a current target price of $120.

For more information, be sure to read Buffett’s Latest Word on Stock Valuations, Holdings, and Taxes.

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