Seeking Alpha

Skyworks +4.3% on FQ3 beat, strong guidance; RF Micro +1.1%

  • In addition to beating FQ3 estimates, Skyworks (NASDAQ:SWKS) is guiding for FQ4 revenue of $680M and $1.00, soundly above a consensus of $608.1M and $0.87. The numbers come 6 weeks after Skyworks hiked its FQ3 outlook.
  • Gross margin +70 bps Q/Q and +140 bps Y/Y to 45.4%. GAAP opex +11% Y/Y to $115.7M, trailing rev. growth of 35%. 1M shares were repurchased.
  • RF Micro (RFMD - reports on July 24) is following Skyworks higher. Merger partner TriQuint (TQNT - reports on July 23) might end up doing the same. Skyworks is once more near a 52-week high of $49.10.
  • FQ3 results, PR

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Comments (3)
  • Philip Marlowe
    , contributor
    Comments (1161) | Send Message
     
    Great news for SWKS. One of the best earnings releases and conference calls I have witnessed. I especially loved the part where they said that while they are being very successful and making more money, their competition is actually decreasing.
    17 Jul 2014, 06:11 PM Reply Like
  • UCONN Husky
    , contributor
    Comments (11) | Send Message
     
    Really enjoyed the comment on the conference call where they expected continued earnings growth for the next 2-3 years. They are already working on new platforms for the years 2015-2016 . Excellent.
    17 Jul 2014, 08:52 PM Reply Like
  • randyguyer
    , contributor
    Comments (98) | Send Message
     
    And this stock is insanely inexpensive. Should be at least $75. Will earn $3 plus. With their growth, a PE of 25 is easily justified. 50 to 60% upside just on the FY 14 earnings, 75% of which are already banked and the CEO is saying they'll earn a buck in Q4 with an estimate of .87.

     

    Fy 15 estimate is 3.50 and likely going higher. At a paltry 25 PE, that's $87.50 before any upward revision of next years earnings.
    17 Jul 2014, 11:28 PM Reply Like
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