Oppenheimer Reports Skyworks Trimming For Japan

According to Oppenheimer, Skyworks Solutions (NASDAQ: SWKS) is trimming for Japan but the thesis is unchanged.

Oppenheimer reported that it remains very comfortable with its thesis on Skyworks, which builds in more share gains, TAM-expansion and increased $ content, and would continue to add to positions. “But with Sony Ericsson and Nokia already acknowledging some Japan-related disruption, Skyworks' top and bottom line are not immune to some near-term softness. We also would not be surprised if Apple sees some Japan-related constraints. We're slightly adjusting our estimates accordingly. That said, we see the gap as temporary and are bullish on the 2H11. We're buyers on any weakness.”

Skyworks Solutions closed yesterday at $31.88.