Skyworks Shares Jump After Bullish Investor Presentation
Skyworks Solutions (SWKS) shares are sharply higher following a bullish presentation by the company yesterday at an Oppenheimer investment conference. The company repeated its previous forecast for the fiscal third quarter ending this month of $210 million in revenue and EPS of 17 cents.
CEO David Aldrich said the company, which makes chips for the wireless handset business, can outgrow the overall wireless industry; he also said the company believes it can expand both gross margins and operating margins. At the gross margin level, the target is 42%, up from 40% in the latest quarter.