Skyworks Solutions Inc (NASDAQ:SWKS), an innovator of high performance analog semiconductors connecting people, places and things, announced that its front-end modules are being leveraged by Iotera, a leader in wireless technologies for wide area Internet of Things applications, across their family of IOTA® GPS-enabled tracking products. Initially deployed for tracking pets, these devices are now being utilized to protect vehicles, bicycles and other personal items. Tracking is becoming an increasingly important opportunity as the Internet of Things explosion proliferates and encompasses a wide range of new and previously unimagined applications ranging from smart meters and connected vehicles, to security systems and industrial uses. Skyworks’ connectivity solutions extend range and maximize battery life in these types of devices.

“Skyworks is intensely focused on enabling a broad range of applications spanning the Internet of Things,” said John O’Neill, vice president of broad markets for Skyworks. “We are excited to be partnering with Iotera and part of a family of products that is breaking size and performance barriers in this emerging market. This partnership is yet another example of how Skyworks is leveraging its broad product portfolio and systems expertise to create a first mover advantage for new applications.”

“Skyworks has been a vital partner as we developed our proprietary platform for our revolutionary tracking devices,” said Ben Wild, CEO of Iotera. “Their solutions have enabled us to build the world’s smallest, real-time GPS tracking devices with industry leading battery life, giving us tremendous competitive advantages.”

Long range device tracking without the need for monthly fees is quickly growing in popularity as people become aware of these products and services. According to an April Global Market Insights report, the consumer global pet wearable market alone is expected to exceed $2 billion by 2023, driven in large part by the rising demand for remote monitoring and tracking of pets. Looking more broadly, IDC is expecting global wearable device shipments to surge from 76.1 million units in 2015 to 173.4 million by 2019, representing a 128 percent increase. In the industrial segment, General Electric estimates connected industrial machinery will add $10 to $15 trillion to the global GDP within the next 20 years. (Original Source)

Shares of Skyworks Solutions closed yesterday at $66.46, up $0.65 or 0.99%. SWKS has a 1-year high of $112.88 and a 1-year low of $54.50. The stock’s 50-day moving average is $69.22 and its 200-day moving average is $71.37.

On the ratings front, Skyworks Solutions has been the subject of a number of recent research reports. In a report released yesterday, CLSA analyst Srini Pajjuri initiated coverage with a Sell rating on SWKS and a price target of $70, which represents a potential upside of 5.3% from where the stock is currently trading. Separately, on May 16, Citigroup’s Atif Malik maintained a Hold rating on the stock and has a price target of $69.50.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Srini Pajjuri and Atif Malik have a total average return of -7.9% and 7.9% respectively. Pajjuri has a success rate of 34.6% and is ranked #3421 out of 3869 analysts, while Malik has a success rate of 56.3% and is ranked #750.

The street is mostly Bullish on SWKS stock. Out of 15 analysts who cover the stock, 12 suggest a Buy rating , 2 suggest a Hold and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $84.60, which represents a potential upside of 27.3% from where the stock is currently trading.