Skyworks price target raised to $140 from $110 at Needham

Needham analyst Rajvindra Gill raised the firm’s price target on Skyworks to $140 from $110 and keeps a Buy rating on the shares. The company’s Q1 results were "better than feared" after some tough prints from recent peers, the analyst tells investors in a research note. The firm also adds that based on the "known design wins", the second half of 2023 is expected to be "strong", modeling a 32% growth vs. the second half of last year.