Skyworks Solutions Inc (NASDAQ:SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today expanded its best-in-class antenna tuning product portfolio with the addition of several new high performance solutions. Skyworks’ latest antenna tuning offerings address the design challenges mobile device manufacturers face as smartphones become thinner, leverage revolutionary case materials and integrate more cellular bands. By optimizing radiated efficiency, Skyworks’ antenna aperture tuners enable higher data throughput and smaller footprints, minimizing dropped calls and improving the consumer experience.
“Cellular band proliferation in smartphones increases complexity and requires highly sophisticated RF solutions,” said David Stasey, general manager and vice president of Diversified Analog Solutions at Skyworks. “With our newest suite of antenna tuners, Skyworks is once again pushing the performance envelope and enabling breakthrough front-end performance as well as size reductions and cost savings.” (Original Source)
Shares of Skyworks are down nearly 3% to $60.90 in pre-market trading. SWKS has a 1-year high of $106.50 and a 1-year low of $54.50. The stock’s 50-day moving average is $64.89 and its 200-day moving average is $68.30.
On the ratings front, Skyworks has been the subject of a number of recent research reports. In a report issued on July 1, Mizuho analyst Vijay Rakesh downgraded SWKS to Hold, with a price target of $68, which represents a potential upside of 8.6% from where the stock is currently trading. Separately, on June 27, Morgan Stanley’s Craig Hettenbach initiated coverage with a Sell rating on the stock and has a price target of $61.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vijay Rakesh and Craig Hettenbach have a total average return of 27.9% and 28.2% respectively. Rakesh has a success rate of 70% and is ranked #11 out of 4010 analysts, while Hettenbach has a success rate of 68% and is ranked #62.
The street is mostly Bullish on SWKS stock. Out of 15 analysts who cover the stock, 10 suggest a Buy rating , 3 suggest a Sell and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $81.83, which implies an upside of 30.7% from current levels.
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.