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Skyworks Solutions (SWKS)

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Skyworks Solutions (SWKS) recently upgraded its guidance for the fourth quarter due to broad-based improvements in end markets. Revenues are now expected at $310 million, up from the prior estimate of $300 million.

Excluding stock-based compensation expenses and restructuring charges, EPS is now expected at $0.40 per share, compared to the previous estimate of $0.37. Skyworks Solutions is well positioned to benefit from the recent trends in the handset market, which are favorable for increasing the dollar content of RF components.

The company also continues to capitalize on the rapidly expanding opportunity for analog semiconductor solutions, fueled by increasing demand for smartphones, broadband access, network infrastructure and smart grid applications. We currently maintain an Outperform recommendation on the stock.

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