Analyst Note
| Brian Colello |Narrow-moat Skyworks Solutions reported solid fiscal first-quarter results and provided investors with a decent forecast for the March quarter considering a tough macroeconomic environment and soft smartphone demand. We still consider Skyworks as best-of-breed in the radio frequency, or RF, chip space and maintain our $155 fair value estimate. We continue to view shares as undervalued, and management likely thinks so too as the firm announced a $2 billion stock buyback authorization.