Some fortunate timing on this one; we just added to our Skyworks Solutions (SWKS) position earlier on Wednesday and we have raised guidance after the bell. This is really the only secular growth story I can find in America at this point, excluding government debt (that's a joke) and I expect Skyworks' competitors to follow suit; we own a trio in the sector. Honestly it is sort of pathetic stocks that have lost money with no real growth prospects have rallied 50-70% the past few months while a company like this, on a relative basis, is chugging along slowly. Ah, markets.
Coming into the day, the 14 analyst consensus was 19 cents on $210M in revenue.
- Skyworks Solutions, Inc. (NASDAQ: SWKS - News), an innovator of high reliability analog and mixed signal semiconductors enabling a broad range of end markets, today increased its financial outlook for the fourth quarter of fiscal 2009 given broad-based improvements in order demand. For the period, Skyworks now expects revenue in the range of $220 to $225 million and non-GAAP diluted earnings per share of $0.21 to $0.22.
- “Multiple new program ramps coupled with strong operational execution are contributing to better than planned top and bottom line growth,” said David J. Aldrich, president and chief executive officer of Skyworks. “Our diversification into a broader set of analog semiconductor sectors, share consolidation in our core markets and our scale advantages are increasingly enabling us to outperform our addressable markets.”
The stock is up 7% after the bell, but I don't know how much of that is from the raised guidance and how much is from the Cramer lemmings pile in after hours. To be fair to Cramer, he has liked Skyworks a long time...