Skyworks (NASDAQ:SWKS) announces a $250M buyback plan to go with its FQ3 results. The plan...

Skyworks (NASDAQ:SWKS) announces a $250M buyback plan to go with its FQ3 results. The plan replaces a $200M program announced last November, and which had $35.6M remaining. The RF chipmaker is guiding for FQ4 revenue of $475M and EPS of $0.62, above a consensus of $470.1M and $0.60 and allaying fears stoked by Samsung, Apple, and (most recently) TSMC. A likely reason: Skyworks says it gained "connectivity and analog control IC content" with Chinese OEMs, Huawei, Lenovo, and ZTE, who have been seeing their low-end smartphone sales surge. Skyworks also says it gained sockets in Qualcomm 4G reference designs. FQ3 gross margin was 44%, +180 bps Q/Q. GM is expected to total 44%-44.5% in FQ4. Shares +5.2% AH. RFMD +1%.