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What: Shares of Skyworks Solutions
So what: Skyworks reassured the market that it still expected revenue of $345 million and earnings per share of $0.46 for the fiscal third quarter. That does not include acquisitions of Advanced Analogic Technologies
Now what: You might remember that shares popped at the end of April, when Skyworks originally announced this guidance. Since then, Mr. Market became confused about whether the guidance applied to Skyworks before or after acquisition. The company cleared all of that up today, and we're on our way to where we started. Skyworks expects to reach a $2-per-share earnings rate by the September quarter. I think that gives shares plenty of upside at the current price of $25.20.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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