Skyworks (SWKS +2.7%) is closing with a decent gain after announcing its board has authorized a...

|About: Skyworks Solutions, Inc. (SWKS)|By:, SA News Editor

Skyworks (SWKS +2.7%) is closing with a decent gain after announcing its board has authorized a new $200M stock buyback program, good for repurchasing 5.1% of outstanding shares at current levels. Shares are down over 30% from their early September highs thanks to disappointing earnings forecasts, and now trade at less than 10x FY13E EPS. (PR)