Stock Update (NASDAQ:SWKS): Skyworks Solutions Inc Expands Industry Leading LTE Solutions for Internet of Things Applications


Skyworks Solutions Inc (NASDAQ:SWKS) announced the unveiling of its next generation LTE Category M-1 and NB-1 front-end solutions targeting machine-to-machine and Internet of Things applications requiring embedded cellular connectivity.

Skyworks’ newest multiband modules leverage half-duplex RF operation to deliver a highly integrated, turn-key solution that addresses Release 13 specifications of the 3GPP LTE standard – providing dependable, secure, low power connectivity in a compact package. These innovative products allow OEMs to simplify the design process, shorten development time, meet operator requirements worldwide and significantly accelerate time to market.

“With leading cellular network operators announcing plans to enable the latest IoT standards on their networks in 2017, Skyworks is pleased to be pushing the performance envelope and offering our customers a single SKU, low-cost LTE solution that operates over multiple frequency bands and supports migration from 2G,” said Carlos Bori, vice president of sales and marketing for Skyworks. “Skyworks’ modules are powering wireless cellular communications for applications such as wearables, action cameras, smart meters and other consumer IoT devices requiring LTE connectivity as well as paving the way for 5G machine-to-machine communication networks.”

According to GSMA, cellular machine-to-machine connections are expected to grow from approximately 300 million devices today to as many as two billion by 2020. More broadly, IHS forecasts the IoT market will grow from an installed base of 15 billion devices in 2015 to 31 billion devices in 2020. (Original Source)

Shares of Skyworks Solutions closed yesterday at $74.99, down $0.16 or -0.21%. SWKS has a 1-year high of $82.28 and a 1-year low of $54.50. The stock’s 50-day moving average is $76.77 and its 200-day moving average is $72.69.

On the ratings front, Skyworks Solutions has been the subject of a number of recent research reports. In a report issued on December 21, Brean Murray Carret analyst Mike Burton reiterated a Buy rating on SWKS. Separately, on December 14, Canaccord Genuity’s Michael Walkley maintained a Buy rating on the stock and has a price target of $92.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mike Burton and Michael Walkley have a yearly average return of 12.1% and 14.6% respectively. Burton has a success rate of 65% and is ranked #162 out of 4369 analysts, while Walkley has a success rate of 62% and is ranked #50.

Sentiment on the street is mostly bullish on SWKS stock. Out of 12 analysts who cover the stock, 9 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $88.11, which represents a potential upside of 17% 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, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, power management devices, receivers, switches, and technical ceramics.