Skyworks Solutions Inc (NASDAQ:SWKS) an innovator of high performance analog semiconductors connecting people, places and things, announced that it is opening a state-of-the-art design center and laboratory facility in San Diego, California. The design center will focus on the development of leading edge technologies targeting 4G/5G protocols and the Internet of Things.
“We are excited to be expanding our design and development capabilities, particularly given the increasing demand for our differentiated solutions,” said David J. Aldrich, chairman and chief executive officer forSkyworks Solutions. “With the addition of Skyworks’ new design center in San Diego, we are well positioned to extend our market leadership and further empower ubiquitous connectivity.”
Skyworks’ design center will be operational in July and is strategically situated to enhance collaboration among Skyworks’ design centers in Newbury Park and Irvine, California, its advanced packaging team inIrvine, its manufacturing facility in Mexicali, Mexico as well as its filter joint venture with Panasonic in Japan, which designs and produces innovative RF filters and duplexers. Further, Skyworks’ new design center supports the company’s long standing relationships with its system-on-chip partners and the University of California, San Diego. (Original Source)
Shares of Skyworks Solutions closed last Friday at $110.2 . SWKS has a 1-year high of $112.88 and a 1-year low of $44.06. The stock’s 50-day moving average is $103.29 and its 200-day moving average is $89.48.
On the ratings front, Skyworks Solutions has been the subject of a number of recent research reports. In a report issued on June 19, Merrill Lynch analyst Vivek Arya maintained a Buy rating on SWKS, with a price target of $125, which represents a potential upside of 13.4% from where the stock is currently trading. Separately, on June 16, Stephens Inc’s Harsh Kumar maintained a Hold rating on the stock and has a price target of $110.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vivek Arya and Harsh Kumar have a total average return of 15.1% and 34.8% respectively. Arya has a success rate of 48.4% and is ranked #476 out of 3638 analysts, while Kumar has a success rate of 62.5% and is ranked #873.
The street is mostly Bullish on SWKS stock. Out of 13 analysts who cover the stock, 11 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $112.58, which represents a slight upside potential from current levels.
Skyworks Solutions Inc, together with its consolidated subsidiaries is an innovator of high reliability analog and mixed signal semiconductors.