Skyworks' Sunny Outlook Defies Chip Trend

SAN FRANCISCO - Skyworks Solutions(SWKS) said it is fully booked for the current quarter, putting the wireless chipmaker on target to meet its previously issued financial guidance.

In a regulatory filing issued ahead of an executive presentation at an investor conference, the Woburn, Mass., chipmaker also said it is seeing improving order visibility.

Shares of Skyworks were up 10 cents to $9.44 in midday trading Wednesday, as many of its peers wallowed in negative territory due to bearish comments by the CEO of Qualcomm(QCOM), one of the world's top cell phone chip makers.

Qualcomm CEO Paul Jacobs reportedly told CNBC that consumers are upgrading to new cell phones less often than in the past, threatening the end-of-year handset sales boom that many chipmakers and cell phone makers are depending on.

Shares of Qualcomm were off 3.1%, or $1.60, at $49.57. Texas Instruments(QCOM), was down 3.6%, or 88 cents, at 23.53.

Skyworks makes radio frequency chips used in high-end cell phones, as well as in other electronic devices such as industrial machinery.

In July, Skyworks projected that revenue in its current fiscal fourth quarter would be $225 million, slightly exceeding the average analyst expectation at the time, with adjusted earnings of 20 cents a share.

Shares of Skyworks are down roughly 16% from their 52-week high of $11.24 in June.

>To order reprints of this article, click here: Reprints