Why Skyworks Solutions Shares Fell
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Skyworks Solutions (NAS: SWKS) have fallen by as much as 21% today, after the company updated guidance and kicked off its annual analyst day.
So what: The company is expecting fourth quarter revenue to be right around $420 million, which is actually on the high end of its previously provided guidance, which called for between $415 million and $420 million. Adjusted earnings per share should be $0.52, even above its previous forecast. The company is also hosting its analyst day today.
Now what: That guidance represents just an 8% sequential increase, which is more than rivals like Avago Technologies (NAS: AVGO) are expecting, but less than what TriQuint Semiconductor (NAS: TQNT) sees in its future. It would seem that something the company is sharing at its analyst day is causing some pessimism among investors. Unfortunately, at this point, there's not a lot of information as to what the precise culprit may be.
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The article Why Skyworks Solutions Shares Fell originally appeared on Fool.com.Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool owns shares of TriQuint Semiconductor. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
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