This is our first report on Skyworks, one of the leading suppliers of radio frequency (RF) components to the electronics industry. The company delivered another all-around beat in the last quarter driven by its diversified portfolio and expanding set of customers. They provided integrated platforms for mobile to the top 5G smartphone OEMs and continued to add more clients and expanding the content in IoT. The company also supplied programmable timing solutions for a top optical transport OEM throughout the infrastructure and industrial markets, simplifying 400G capacity in data centers and telco networks. At Samsung, they secured additional infrastructure contracts, allowing service providers to increase the capacity and coverage of the mid-band. Furthermore, the management delivered strong earnings in the automotive industry, with revenue strength emphasizing their connectivity and power isolation portfolio. We initiate coverage on the stock of Skyworks Solutions with an ‘Outperform’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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