Solid Earnings Report from Skyworks Solutions (SWKS) but Tepid Reaction

I am a bit surprised by the lack of reaction to what appears to be a very nice report from Skyworks Solutions (SWKS) last evening.  Beat by a penny and raised guidance for next quarter by 1-3 cents over current expectations.  Perhaps it has to do with the huge run (almost 100% from trough to peak) the stock has enjoyed the past 6 months, which has discounted some of the news.



Via Reuters:

• Cellphone chipmaker Skyworks Solutions Inc (SWKS) posted better-than-expected quarterly results and forecast second-quarter above market estimates on firm demand for smartphones, tablets and a shift to 4G.
• For January-March quarter Skyworks forecast second-quarter earnings of 38-40 cents a share, excluding items, on revenue of $310-$320 million. Analysts were looking for earnings of 37 cents a share, before items, on revenue of $306.5 million.
• In the October-December quarter, Skyworks net income doubled to $60.9 million, or 32 cents a share, from $28 million, or 16 cents a share, a year ago. Excluding items, it earned 41 cents a share, above analysts' view of 40 cents a share. 
• Revenue at the company rose 37% to $335.1 million, above analysts expectation of $334 million.

Cramer had the CEO on last evening - 8 minute video






[May 4, 2010: Skyworks Solutions Impresses the Street]
[Jan 21, 2010: Skyworks Solutions Beats Estimates, Raises Guidance - But Still Sold Off]
[Sep 9, 2009: Skyworks Solutions Raises Guidance, CEO Visits Mad Money]
[Jul 23, 2009: Positive News Out of RF Semi Space - TriQuint Semiconductor, Skyworks Solutions]

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