SanDisk (SNDK) (SWKS) (T) (UNP) (LLY) EPS Estimates Changed

SanDisk Co. (NASDAQ: SNDK), Skyworks Solutions, Inc. (NASDAQ: SWKS), AT&T Inc. (NYSE: T), Union Pacific (NYSE: UNP) and Eli Lilly & Co. (NYSE: LLY) EPS estimates changed by analysts.

UBS AG (NYSE:UBS) cuts its EPS estimate on SanDisk Co. (SNDK). They have a “Buy” rating and a price target of $62.00 on the company.

UBS AG lowered its EPS estimate of Skyworks Solutions, Inc. (SWKS). They have a “Buy” rating on the company. They cited valuation as the catalyst behind the call.

Goldman Sachs (NYSE: GS) boosted its EPS estimate on AT&T Inc. (T). They have a “Neutral” rating and a price target of $30.00 on the company.

Credit Suisse (NYSE: CS) raised its EPS estimate on Union Pacific (UNP). They have an “Outperform” rating and a price target of $131.00 on the company.

Goldman Sachs raised its EPS estimate on Eli Lilly & Co. (NYSE: LLY). They have a “Sell” rating and a price target of $35.00 on the company.

Ratings on (SCG) (SPLS) (SWKS) (TJX) (TRIT) Reiterated

Ratings on Scana Corporation (NYSE: SCG), Staples, Inc. (NASDAQ: SPLS), Skyworks Solutions, Inc. (NASDAQ: SWKS), TJX Companies Inc (NYSE: TJX) and Tri-Tech Holding, Inc. (NASDAQ: TRIT) reiterated by analysts.

Wunderlich reiterated a “buy” rating on Scana Corporation (SCG). They now have a price target of $44.00 on the company.

Deutsche Bank (NYSE:DB) reiterated a “buy” rating on Staples, Inc. (SPLS).

Oppenheimer reiterated an “outperform” rating on Skyworks Solutions, Inc. (SWKS).

Morgan Stanley (NYSE:MS) reiterated an “equal weight” rating on TJX Companies Inc (TJX).

Brean Murray reiterated a “buy” rating on Tri-Tech Holding, Inc. (TRIT).

Skyworks Solutions (SWKS), Qualcomm (QCOM), Cirrus Logic (CRUS) Riding the Apple (AAPL) Wave

Skyworks Solutions (NASDAQ:SWKS), Qualcomm (NASDAQ:QCOM), Cirrus Logic (NASDAQ:CRUS) are among the beneficiaries of the Apple (NASDAQ:AAPL) iPhone wave, as the iPad 2 is about to be unveiled on Wednesday, although specs have yet to be revealed there.

Most investors will be closely watching Apple the news concerning the iPad 2, which probably won't surprise many, as a lot of the specs have already been talked about; although anything that isn't known and is unveiled could offer a nice boost to the company.

As for the three stocks mentioned above, they are recipients of the success of the Apple iPhone for several reasons.

For Skyworks, it's from adding another chip to the three power amplifiers it had in the first iPhone 4.

Qualcomm is also providing a 3G wireless chip for the new iPhone.

Cirrus Logic has their audio technology features in several Apple products.

These could be a precursor to iPad 2 specs, which we'll finally know about on Wednesday.

Skyworks Solutions (NASDAQ:SWKS) Outperforms on Smartphones, Tablets

Consumer demand for smartphones and tablets seems to be remaining almost insatiable, and that helped Skyworks Solutions (NASDAQ:SWKS) beat expectations for their latest quarter, and increase guidance for the next.

Skyworks had net income of $60.9 million, or 32 cents a share, for the quarter, up from $28 million, or 16 cents a share, a year ago in the same quarter.

Excluding items, Skyworks earned 41 cents a share, beating analyst's expectations of 40 cents a share.

Revenue in the quarter increased to $335.1 million, a 37 percent boost, beating analysts expectations of $334 million.

The major competitors of Skyworks are RF Micro Devices (NASDAQ:RFMD), Anadigics (NASDAQ:ANAD) and Triquint Semiconductor NASDAQ:TQNT).

Major customers include Apple (NASDAQ:AAPL) Nokia (NYSE:NOK), and Samsung Electronics.

Guidance for the second quarter from Skyworks is for earnings to come in at $38-40 cents a share on revenue of $310 to $320 million.

Skyworks closed Thursday at $30.03, dropping $1.88, or 5.89 percent.

Skyworks Solutions (NASDAQ:SWKS) Outperforms on Smartphones, Tablets

Consumer demand for smartphones and tablets seems to be remaining almost insatiable, and that helped Skyworks Solutions (NASDAQ:SWKS) beat expectations for their latest quarter, and increase guidance for the next.

Skyworks had net income of $60.9 million, or 32 cents a share, for the quarter, up from $28 million, or 16 cents a share, a year ago in the same quarter.

Excluding items, Skyworks earned 41 cents a share, beating analyst's expectations of 40 cents a share.

Revenue in the quarter increased to $335.1 million, a 37 percent boost, beating analysts expectations of $334 million.

The major competitors of Skyworks are RF Micro Devices (NASDAQ:RFMD), Anadigics (NASDAQ:ANAD) and Triquint Semiconductor NASDAQ:TQNT).

Major customers include Apple (NASDAQ:AAPL) Nokia (NYSE:NOK), and Samsung Electronics.

Guidance for the second quarter from Skyworks is for earnings to come in at $38-40 cents a share on revenue of $310 to $320 million.

Skyworks closed Thursday at $30.03, dropping $1.88, or 5.89 percent.

Skyworks Solutions (NASDAQ:SWKS) Will Continue to be Driven by Smartphone Demand

In the short term there appears to be no doubt Skyworks Solutions (NASDAQ:SWKS) momentum will continue. Going forward, it still looks like demand could exceed seasonal, based partially on the Chinese New Year.

UBS says, "Our checks indicate that SWKS’ near term momentum remains intact & the company should report solid F1Q11. Our checks further indicate that the component & device inventory remain lean amid strong demand for smartphones & consequently F2Q may be better than seasonal, aided in part by demand from Chinese New Year. We believe that in near/mid term, SWKS should continue to benefit from 3G/Smartphone penetration & also from exposure to leading handset OEMs such as Nokia (NYSE:NOK), Apple (Nasdaq:AAPL) & Samsung."

UBS reiterates a "Buy" on Skyworks Solutions, which closed Wednesday at $30.20, gaining $0.57, or 1.92 percent. UBS has a price target of $35 on Skyworks, increasing it from $28.

Volterra (Nasdaq:VLTR), Standard Micro (Nasdaq:SMSC), Atmel (Nasdaq:ATML), Cypress (NYSE:CY), Skyworks (Nasdaq:SWKS), MIPS (Nasdaq:MIPS) Getting Coverage from ThinkEquity

The semiconductor sector has been drawing a lot of analyst interest lately, and that's the case with ThinkEquity, which initiated coverage on a plethora of companies, including Volterra (Nasdaq:VLTR), Standard Micro (Nasdaq:SMSC), Atmel (Nasdaq:ATML), Cypress Semi (NYSE:CY), Skyworks Solutions (Nasdaq:SWKS), MIPS Technologies (Nasdaq:MIPS), LSI Corp. (NYSE:LSI) and Silicon Labs (Nasdaq:SLAB).

Started off with a "Buy" rating were Volterra, Standard Micro, Atmel, Cypress Semi, Skyworks Solutions and MIPS Technologies. LSI Corp. and Silicon Labs were started off with "Hold" ratings on them.

Volterra closed Friday at $24.20, up $0.43, or 1.81 percent, with a price target of $28 placed on them. Standard Micro closed at $28.31, down $0.12, or 0.42 percent, with a price target of $35. Atmel closed at $12.30, up $0.02, or 0.16 percent, with a price target of $15. Cypress cosed at $17.93, up $0.24, or 1.36 percent, with a price target of $20. Skyworks Solutions closed at $28.44, up $0.63, or 2.27 percent, with a price target on them of $32. MIPS closed at $14.16, up $0.21, or 1.51 percent, with a price target on them of $18. LSI closed at $6.00, up $0.01, or 0.17 percent. Silicon Labs closed at $45.61, down $0.31, or 0.68 percent, with a price target of $48.00 on them.