Skyworks Solutions Inc (NASDAQ:SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today introduced a suite of high performance amplifiers specifically addressing the rapidly growing small cell infrastructure market. As mobile devices and applications supporting the Internet of Things transition to 5G technologies, there will be an immediate and substantial increase in network load and an unprecedented deployment of small cell systems to help improve network performance. Skyworks’ newest products provide infrastructure OEMs industry leading performance and an entire portfolio of solutions for next generation global cellular networks that address multiple bands.
“With the launch of these new amplifiers, Skyworks is enabling small cell infrastructure OEMs to radically simplify their system architecture,” said David Stasey, vice president and general manager of Diversified Analog Solutions forSkyworks. “Specifically, our innovative devices meet stringent band requirements in the global landscape and provide our customers with unmatched amplifier efficiency and a lower bill of materials. As a result, service providers and consumers can enjoy better network efficiency and lower costs.”
According to a February estimate by Small Cell Forum, the global small cell market is estimated to grow from $1 billion in annual equipment sales in 2015 to$6.7 billion by 2020 with small cells accounting for 85 percent of the radio access network (RAN) hardware in a mobile operator’s network. (Original Source)
Shares of Skyworks Solutions closed yesterday at $65.81, up $1.25 or 1.94%. 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 $69.52 and its 200-day moving average is $71.50.
On the ratings front, Skyworks has been the subject of a number of recent research reports. In a report issued on May 16, B. Riley analyst Craig Ellis maintained a Buy rating on SWKS, with a price target of $92, which implies an upside of 39.8% from current levels. Separately, on the same day, Merrill Lynch’s Vivek Arya reiterated a Buy rating on the stock and has a price target of $61.66.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Craig Ellis and Vivek Arya have a total average return of 9.8% and 11.4% respectively. Ellis has a success rate of 62.1% and is ranked #283 out of 3842 analysts, while Arya has a success rate of 53.0% and is ranked #290.
The street is mostly Bullish on SWKS stock. Out of 14 analysts who cover the stock, 12 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $83.20, which represents a potential upside of 26.4% from where the stock is currently trading.
Skyworks Solutions, Inc. engages in the design, development, and manufacture of proprietary semiconductor products. Its product portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure RF subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, power management devices, receivers, switches and technical ceramics.