Out Fox The $treet

Skyworks terminates PMC-Sierra deal after the target accepts a higher bid from Microsemi. The company was expected to match the minimal increase in the deal price. The stock remains an attractive investment based on organic growth targets not reliant on a deal for PMC-Sierra. In a surprise move, Skyworks Solutions (NASDAQ: SWKS ) stepped away from the bidding war for PMC-Sierra (NASDAQ: PMCS ). Or maybe the move wasn't surprising, watching PMC accept a bid last week where Microsemi (NASDAQ: MSCC ) only increased the bid price by $0.18. Read the full article on Seeking Alpha. Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

Skyworks Solutions continues to deliver exceptional results. The company has now set a realistic target of $8 of annualized EPS based on organic growth. The recommendation remains to own the stock based on the strong fundamental business with the PMC deal providing an extra catalyst for shareholders. The amazing part of the Skyworks Solutions (NASDAQ: SWKS ) story is that the stock traded at $80 last week before the executives discussed guidance for $8 EPS in a reasonably short period. Or maybe the amazing part is that this target doesn't include the accretive deal for PMC-Sierra (NASDAQ: PMCS ). Read the full story on Seeking Alpha. Disclosure: No positions mentioned. Please review the disclaimer page for more details.