(SWKS) Skyworks Solutions – Bull of the Day

September 23rd, 2009

Skyworks Solutions (SWKS) is well positioned to benefit from recent trends in the handset market, which are favorable for increasing dollar content for RF (radio frequency) components. There is a significant growth opportunity in the handsets markets propelled by the launch of 3G networks in China.

The company has tie-ups with major OEMs (original equipment manufacturers) that underscore its success in gaining market share. The company is also making good progress in the linear business with WLAN wins at Intel and Broadcom.

Results for the June quarter were better than expected, with earnings per share beating the Zacks Consensus Estimate. Management provided a strong forecast for the coming quarter. Our long-term recommendation for Skyworks is Outperform.

Zacks Investment Research
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