Skyworks Solutions Inc (NASDAQ:SWKS) announced it has partnered with Libre Wireless, a leading embedded Wi-Fi and wireless technology and software solutions provider, to deliver the most advanced products for wireless audio and smart home applications. Libre Wireless is leveraging multiple solutions from Skyworks to enable their leading media modules targeting wireless audio, smart voice services and assistants, among other smart home applications.
Libre Wireless’ new media modules include an advanced multi-room audio system, an optimized Wi-Fi/Bluetooth/Bluetooth Low Energy design and the LibreSync software platform to help simplify the design process and reduce development time. When combined with Skyworks’ innovative analog devices, the solution provides one of the most sophisticated solutions for audio, smart voice, and smart home applications available today and currently shipping to top tier companies worldwide.
“Libre Wireless is excited to be collaborating with Skyworks for audio streaming, smart voice, and Internet of Things applications,” said Hooman Kashef, CEO of Libre Wireless. “By utilizing Skyworks’ devices, we can offer one of the broadest and most advanced product portfolios to deliver the lowest power, smallest size and highest performance solutions that address the growing needs of the wireless audio and connected home market.”
“Skyworks continues to expand its reach across new and diverse applications,” said John O’Neill, vice president of product marketing for Skyworks. “Our partnership with Libre Wireless demonstrates how Skyworks is leveraging our system-level expertise to enable a growing set of new wireless connectivity applications while creating a seamless user experience.”
According to research from IHS Technology, the popularity of mobile devices and changing consumer habits in media consumption are not only increasing demand for wirelessly connected audio devices, but also rapidly altering the home audio landscape. Annual shipments of connected audio products, including wireless speakers, wireless soundbars, and connected A/V receivers, are expected to grow at a compound annual growth rate of 88 percent from 1.5 million units in 2010 to nearly 66 million units in 2018. (Original Source)
Shares of Skyworks Solutions closed yesterday at $75.15, up $0.49 or +0.66%. 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 $76.80 and its 200-day moving average is $72.67.
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 14.2% respectively. Burton has a success rate of 64% and is ranked #157 out of 4351 analysts, while Walkley has a success rate of 61% and is ranked #47.
Overall, 3 research analysts have assigned a Hold rating and 9 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 $88.11 which is 17.2% above where the stock closed yesterday.
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.