Skyworks Reaches For The Sky On Strong Outlook (SWKS, TQNT, RFMD, ANAD, MXL)
Shares of Skyworks Solutions (SWKS), the maker of chips for mobile phones, are soaring 19% after the company posted fiscal third-quarter results that topped analysts’ estimates and gave fourth-quarter guidance that impressed investors. Investors are loving the news as the RF Semiconductor Stocks Index is surging 9.8%.
The Massachusetts-based company is forecasting continued growth from smartphones and tablet devices, which will help drive growth in the December quarter. While not all tablets will include cellular functionality, a meaningful portion will and provide Skyworks with additional content opportunity per tablet well above its current handset average, Reuters reported, citing research firm ThinkEquity.
PacificCrest Securities was also impressed with the Skyworks results and continued to recommend the stock by reiterating an “outperform” rating on the shares. Triquint Semiconductor (TQNT) is higher by 9% while RF Micro Devices (RFMD) is joining in on the fun with a 9% gain. Anadigics (ANAD) is up 3% and MaxLinear Inc (MXL) is up 1%.
Investors can track the RF Semiconductor Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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