NEW YORK (AP) — Shares of Skyworks Solutions climbed Friday as the chipmaker's first-quarter results topped analysts' expectations and it provided second-quarter guidance above Wall Street's view. On Thursday Skyworks Solutions Inc. reported first-quarter adjusted earnings of 67 cents per share on revenue of $505.2 million . Analysts surveyed by FactSet predicted earnings of 66 cents per share on revenue of $500.1 million . For the second quarter, Skyworks anticipates adjusted earnings of 59 cents per share on revenue of about $470 million . Wall Street expects earnings of 57 cents per share on revenue of $460.4 million . Vijay Rakesh of Sterne, Agee & Leach said in a client note that Skyworks continues to deliver steady execution, with solid gross margins and a diversified portfolio. The analyst maintained a "Buy" rating and lifted the company's price target to $33 from $31 . Skyworks' stock gained $2.50 , or 8.7 percent, to $31.12 in morning trading. Its shares have risen 44 percent over the past year.
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