Update (4:17 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- Skyworks Solutions (SWKS) rose 6.71% to $30.54, up $1.92 from its previous close of $28.62, at the close of the trading day on Friday after the company reported first-quarter earnings that surpassed expectations.
The stock had a volume of 13,247,273, nearly five times its average of 2,772,930. It hit a high of $31.80 and a low of $30.27.
The company reported that its revenue for the quarter increased 11% year over year and 6% sequentially to $505.2 million, at 67 cents a share. The numbers surpassed both the company's first-quarter guidance and analysts' expectations. Non-GAAP operating income for the quarter totaled $141.8 million, up 24% from $114.8 million in the first fiscal quarter of 2013. Non-GAAP diluted earnings were 67 cents a share compared to 55 cents for the prior year's first fiscal quarter. GAAP operating income for the quarter was $116.0 million and diluted earnings were 49 cents a share.
TheStreet Ratings team rates SKYWORKS SOLUTIONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: