Shares of the chipmaker were rising following the announcement that TriQuint (TQNT) will merge with RF Micro Devices (RFMD). The merger helps to consolidate the RF component market, leaving manufacturers such as Apple (AAPL) and Samsung with fewer options for smartphone components.
News of the merger comes shortly after Skyworks announced new solutions to bring TD-LTE to a broader range of smartphones at Mobile World Congress in Barcelona. The new systems will help bring faster data speeds to cheaper low-end phones meant for emerging markets.
Must read: Ripple Effects From TriQuint-RF Micro
TheStreet Ratings team rates SKYWORKS SOLUTIONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about its recommendation:
"We rate SKYWORKS SOLUTIONS INC (SWKS) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."