Skyworks (SWKS) Stock Rising on In-Line Earnings Results

Skyworks (SWKS) stock is rising after the company's 2015 fourth quarter earnings results were in-line with expectations.
By Amanda Albright ,

NEW YORK (TheStreet) -- Skyworks (SWKS) - Get Report stock is rising, up by 7.34% to $86.17 on heavy trading volume on Friday, after the company's 2015 fourth quarter earnings results were in-line with expectations. 

After the market close on Thursday, the Woburn, MA-based semiconductor company reported earnings of $1.52 per share.

Revenue increased by 23% year over year to $880.8 million. 

Analysts surveyed by Thomson Reuters were expecting the company to report earnings of $1.52 cents per share on revenue of $880 million. 

"Skyworks is playing a pivotal role in enabling major technology advancements within mobile connectivity, streaming media services, and the Internet of Things," said CEO David J. Aldrich.  "We are successfully executing on our strategy of leveraging world-class systems design capabilities and integration leadership to deliver the industry's most advanced analog connectivity systems.

So far today, 5.67 million shares of Skyworks have traded, versus its 30-day average of 4.45 million shares. 

Separately, TheStreet Ratings team rates SKYWORKS SOLUTIONS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate SKYWORKS SOLUTIONS INC (SWKS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

You can view the full analysis from the report here: SWKS

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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