Skyworks Solutions Inc (NASDAQ:SWKS) an innovator of high performance analog semiconductors connecting people, places and things, introduced its next generation solutions for smart energy and industrial, scientific and medical markets. Skyworks’ newest devices are high performance front-end modules (FEMs) that incorporate a complete transmit/receive chain with associated switching, filtering and logic. Given their high output power and power added efficiency (PAE), this new family of FEMs is ideal for utility infrastructure platforms such as smart meters, which are battery powered and require fast on/off transitions.
Smart meters are digital meters that send energy usage information from the customer site to a utility company via radio frequency. These newer digital electronic devices are capable of tracking and recording a customer’s energy usage as well as communicating with the energy supplier. Smart meters help to reduce meter reading and connection costs as well as inefficiencies in operations and billing.”Skyworks is at the forefront of the innovative technology enabling many of today’s smart energy platforms, from smart meters to advanced metering infrastructure systems,” said John O’Neill, vice president of broad markets for Skyworks. “Skyworks is delighted that our newest solutions are being leveraged by several customers to create differentiated devices and enable operational efficiencies across multiple gas and water metering applications.”
According to a Business Intelligence (BI) report, smart meters have become one of the leading Internet of Things (IoT) devices and will account for 10 percent of IoT shipments this year. Globally, BI expects the number of smart meters to grow from an installed base of 454 million in 2015 to 930 million by 2020, representing a five-year compound annual growth rate of 15 percent. Many of these devices will be enabled by Skyworks’ technology. (Original Source)
Shares of Skyworks opened today at $103.75 and are currently trading up at $104.8437. SWKS has a 1-year high of $105.99 and a 1-year low of $40.25. The stock’s 50-day moving average is $96.57 and its 200-day moving average is $82.17.
On the ratings front, Skyworks has been the subject of a number of recent research reports. In a report issued on May 12, Barclays analyst Blayne Curtis reiterated a Hold rating on SWKS, with a price target of $90, which represents a potential downside of 13.3% from where the stock is currently trading. Separately, on May 1, Canaccord Genuity’s Michael Walkley reiterated a Buy rating on the stock and has a price target of $108.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Blayne Curtis and Michael Walkley have a total average return of 12.6% and 24.3% respectively. Curtis has a success rate of 68.9% and is ranked #363 out of 3606 analysts, while Walkley has a success rate of 71.1% and is ranked #4.
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 $110.75, which represents a potential upside of 6.7% from where the stock is currently trading.
Skyworks Solutions Inc, together with its consolidated subsidiaries is an innovator of high reliability analog and mixed signal semiconductors.