3 Apple Suppliers Set to Shine on Investors

(Updates to provide additional Apple suppliers in third paragraph.)

NEW YORK ( TheStreet) -- Apple recently ( AAPL) released its full list of suppliers, offering investors a valuable insight into the gadget maker's key component partners.

Apple's first-quarter earnings report, which comes after the close on Jan. 24, could therefore benefit suppliers such as Tri-Quint Semiconductor ( TQNT), Multi-Fineline Electronix ( MFLX) and Skyworks Solutions ( SWKS), say analysts.

Qualcomm ( QCOM), Broadcom ( BRCM) and Sony ( SNE) have benefited greatly from their relationship with Apple.

Multi-Fineline Electronix

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Circuit board specialist Multi-Fineline Electronix is one of the first Apple suppliers to have reported preliminary earnings, putting out exceptionally strong results.

Last week the company reported first-quarter revenue of $239 million, well above the $221.7 million analysts had been expecting, according to Yahoo! Finance. Wall Street analysts expect the company to report earnings of 36 cents per share in earnings, when it reports actual results on Feb. 9.

The company now sees sales of about $239 million, above the Street estimate of $215.6 million. Prior guidance had been for $200 million to $230 million in revenue.

Shares of Multi-Fineline Electronix jumped last week with the initial results, and company said it expects "customers A, C and D to represent approximately 5 percent, 66 percent and 27 percent, respectively, of net sales." It is widely believed customer C is Apple, and any continued strength from the tech giant may benefit Multi-Fineline going forward.

Over the past year, shares of Multi-Fineline have lost 7.5%, according to Google Finance.

Skyworks Solutions

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Skyworks provides analog and mixed signal semiconductors to smartphone suppliers, including Apple, Research In Motion ( RIMM) and others, and has certainly been attracting plenty of attention.

Craig Hallum analyst Anthony Stoss wrote in a recent research report that Skyworks could very well benefit from Apple's expected strong quarter.

Stoss wrote that Skyworks is likely to produce in-line results this quarter, but potential design wins for the iPhone 5 could be a catalyst for the firm's shares.

"We look for the iPhone 5 to launch mid-2012, which will dovetail with the ending of the 2-year contracts that early iPhone 4 (GSM) buyers have. Given this timeframe we look for design-in chatter to begin this month," he explained. "This could provide a catalyst for Skyworks shares as we believe the Company is on the reference design for the Qualcomm ( QCOM) chipset that will likely be used and will likely see an increase in content in the iPhone 5." The analyst rates shares buy with a $28 price target.

Morningstar analyst Brian Colello says that Skyworks has been a major beneficiary of the Cupertino, Calif.-based tech giant, with 27% of its revenues coming from Apple. Colello noted in an email that Skyworks cites a "customer A" in its annual report, which Morningstar believes is Apple/Foxconn.

"We think the firm will see a nice shot in the arm from the Apple iPhone 4S launch, but this benefit will be offset by somewhat surprisingly softer handset sales by HTC, another key customer," Colello explained. He has a $26 fair value on the stock.

One of TheStreet's Breakout Stocks. Skyworks is expected to report earnings of 42 cents per share, on $389.6 million in revenue. The Woburn, Mass.-based firm will report earnings results after the close of trading on Jan. 19, five days before Apple is scheduled to report.

Skyworks shares have lost 44.25% over the past twelve months, compared to a 0.67% drop in the NASDAQ.

Tri-Quint Semiconductor

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Craig Hallum's Stoss notes that Tri-Quint Semiconductor may benefit from the iPhone 5, explaining that Apple made up 35% of TriQuint's third quarter revenue, and approximately 50% of its mobile revenue.

Tri-Quint makes radio frequency solutions for communications devices, and was featured in the iPhone 4S, according to an iFixit teardown of the device. At least two microprocessors from Tri-Quint are featured in the latest phone from Apple.

Stoss believes that Tri-Quint is likely to report revenue and earnings in-line with prior guidance (the company guided revenue up 2% at the midpoint of the quarter). The analyst rates Tri-Quint Semiconductor a buy, with an $8 price target.

Tri-Quint is set to report earnings on Feb. 8 for the quarter ending December 2011. Wall Street analysts expect earnings of 4 cents per share and $219.1 million in revenue.

Interested in more on TriQuint ? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends.

-- Written by Chris Ciaccia in New York

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