Skyworks Solutions (SWKS) stock is soaring 5.08% in pre-market trading on Wednesday, following the company's impressive first-quarter forecast and indications of robust demand for its radio-frequency chips used in Apple's latest 5G iPhones.

The semiconductor manufacturer projected first-quarter revenue and profit above Wall Street estimates, signaling strong performance in the coming months. This positive outlook has sparked investor enthusiasm, driving the stock's significant uptick. The company's chips, crucial components in Apple's 5G-enabled devices, are experiencing heightened demand as the tech giant continues to roll out its latest smartphone models.

Adding to the positive sentiment, several analysts have adjusted their price targets for Skyworks Solutions. While some firms like UBS and Citigroup lowered their targets slightly, others such as JP Morgan and Mizuho raised theirs. JP Morgan increased its target price to $74 from $66, maintaining a Neutral rating, while Mizuho lifted its target to $65 from $60. These mixed but generally optimistic analyst views seem to be contributing to the stock's upward movement, as investors weigh the company's growth prospects in the competitive semiconductor market.