Why Skyworks Solutions Is Up 44% So Far This Year

Skyworks Solutions' (NASDAQ: SWKS) stock price has climbed 44% so far in 2017, according to data provided by S&P Global Market Intelligence, after the Massachusetts-based semiconductor manufacturer beat analysts' estimates for the first three quarters of fiscal 2017.

Investors boosted Skyworks' share price in January after the company reported revenue of $914 million and earnings per share of $1.61 for its fiscal Q1. Those revenues were actually down 1.3% year over year, and net income was down just over 3%, but both figures were higher than analysts' consensus estimates, and investors pushed the stock price up nearly 23% that month. Investors were also pleased to see the company launch a new $500 million share-repurchase plan to replace its earlier $400 million plan.

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Source: Fool.com