Skyworks Solutions Inc (NASDAQ:SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today announced that it will be the exclusive provider of RF content powering D-Links next generation 802.11ac Wave 2 devices. The AC5300 (DIR-895L/R) and AC3150 (DIR-885L/R) ultra Wi-Fi routers support tri-band 2.4 and 5 GHz technology, multiple user MIMO and deliver wireless speeds up to 5.3 Gbps and 3.2 Gbps, respectively. The DIR-895L/R is the world’s fastest router, facilitating uninterrupted, high definition multimedia streaming in the home.
“As new technologies emerge and 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,” said AJ Wang, CTO of D-Link. “By leveraging Skyworks’ leading-edge Wave 2 connectivity solutions, we are able to offer customers the world’s fastest networking speeds and Wi-Fi connections for every type of mobile device, enhancing the user experience in the home.”
“Skyworks is excited to be partnering with D-Link to revolutionize networking platforms,” said John O’Neill, vice president of broad markets forSkyworks. “Our innovative solutions offer best-in-class performance and demonstrate Skyworks continued success across a diverse set of broad markets powering the Internet of Things.”
According to a May 2015 Cisco Visual Networking Index Forecast, by 2019 fixed networking devices such as routers will handle approximately 82 percent of all consumer Internet traffic, with total Internet traffic growing by a compounded annual growth rate of 33 percent from 2015 to 2019. By leveraging advanced networking technology from Skyworks and D-Link, users are able to support applications and devices with ever increasing bandwidth demands. (Original Source)
Shares of Skyworks Solutions closed yesterday at $92.78. 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 $102.26 and its 200-day moving average is $95.89.
On the ratings front, Skyworks has been the subject of a number of recent research reports. In a report issued on July 24, Ascendiant Capital analyst Cody Acree reiterated a Buy rating on SWKS, with a price target of $120, which represents a potential upside of 29.3% from where the stock is currently trading. Separately, on the same day, Mizuho’s Vijay Rakesh reiterated a Buy rating on the stock and has a price target of $120.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Cody Acree and Vijay Rakesh have a total average return of 24.5% and 31.8% respectively. Acree has a success rate of 50.0% and is ranked #247 out of 3724 analysts, while Rakesh has a success rate of 67.6% and is ranked #29.
Overall, 2 research analysts have assigned a Hold rating and 11 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $112.58 which is 21.3% above where the stock closed yesterday.
Skyworks Solutions Inc, together with its consolidated subsidiaries is an innovator of high reliability analog and mixed signal semiconductors.