Story updated at 9:55 a.m. to reflect market activity.
Skyworks gained 10% to $41.76 in morning trading.
Analysts T. Michael Walkley and Siddharth Sinha also raised estimates for the company based on strong second-quarter results and its new guidance.
"We believe the strong June quarter guidance is due to Skyworks' growing traction in its non-handset analog business combined with ramping sales of higher $-content integrated solutions into smartphone programs at Chinese and other emerging market OEMs along with ramping sales to Samsung offsetting seasonally softer sales to Apple," the analysts wrote. "Given Skyworks' broad RFIC portfolio and customer base, we believe Skyworks' diverse analog portfolio is enabling content share gains in its handset customer base. Further, we anticipate Skyworks' content share in markets such as WiFi 802.11ac, wireless infrastructure, and the M2M market are also driving strong growth trends."
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Separately, 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:
"We rate SKYWORKS SOLUTIONS INC (SWKS) a BUY. This is driven by a few notable 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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."