Skyworks Solutions Inc (NASDAQ:SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today unveiled its suite of 75 ohm low noise amplifiers and high performance switches supporting higher data rates across broadband networking platforms in the connected home. As more devices become connected within the home, consumers are demanding reliable, high-speed, wide area network connections to carry data, voice, video and multimedia content simultaneously. Skyworks’ newest solutions support DOCSIS 3.1 standards, which enable speeds of 1 Gbps on existing hybrid fiber coaxial networks and up to 10 Gbps on next generation systems. According to a recent news article, as of March 2015, the top ten states in the U.S. with the highest networks speeds averaged internet speeds of just over 40 Mbps.
“With consumers demanding ever increasing data rates for audio and video streaming, web browsing and other wireless networking applications within the home, there is a need for high performance analog solutions supporting broadband platforms that can significantly add capacity and lay the groundwork for future increases in download speeds,” said John O’Neill, vice president of broad markets for Skyworks. “Skyworks’ newest products meet these demanding requirements and further demonstrate our ability to deliver innovative, system level solutions. By partnering with OEMs, Skyworks is able to offer consumers some of the world’s fastest networking speeds and Wi-Fi connections within the connected home and across the Internet of Things, enhancing the user experience.”
According to a May 2015 Visual Networking Index Forecast by Cisco®, broadband speeds will more than double by 2019. By 2019, global fixed broadband speeds will reach 42.5 Mbps, up from 20.3 Mbps in 2014. Skyworks’ suite of solutions is enabling devices that support these higher data rate speeds. (Original Source)
Shares of Skyworks Solutions closed yesterday at $69.15, down $4.14 or -5.65%. SWKS has a 1-year high of $112.88 and a 1-year low of $68.33. The stock’s 50-day moving average is $80.15 and its 200-day moving average is $86.33.
On the ratings front, Skyworks has been the subject of a number of recent research reports. In a report issued on January 4, Barclays analyst Blayne Curtis assigned a Buy rating on SWKS, with a price target of $95, which represents a potential upside of 37.4% from where the stock is currently trading. Separately, on December 17, Needham’s Quinn Bolton maintained a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Blayne Curtis and Quinn Bolton have a total average return of 7.1% and 16.3% respectively. Curtis has a success rate of 56.7% and is ranked #479 out of 3630 analysts, while Bolton has a success rate of 56.9% and is ranked #79.
The street is mostly Bullish on SWKS stock. Out of 9 analysts who cover the stock, 8 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $110.29, which implies an upside of 59.5% from current levels.
Skyworks Solutions Inc, together with its consolidated subsidiaries is an innovator of high reliability analog and mixed signal semiconductors.