NEW YORK (TheStreet) -- Shares of Skyworks Solutions (SWKS) were gaining 4.7% to $102.13 Monday after the analog semiconductor maker announced a new family of switches for Internet of Things applications.
Skyworks Solutions said it expanded its portfolio of RF switches with a suite of analog control IC for Internet of Things applications including the connected home and smart lighting. The new switches can support high data rates and broad frequency ranges, and can operate at elevated temperatures which make them suited for embedded smart energy and lighting applications.
"The introduction of our newest devices reflects Skyworks' commitment to delivering the broadest, highest volume RF switch portfolio in the industry with unmatched product quality, customer support and the best product development pipeline," David Stasey, vice president and general manager of Analog Solutions for Skyworks said. "Our solutions continue to enable some of the fastest growing Internet of Things applications as the world becomes more connected."
TheStreet Ratings team rates SKYWORKS SOLUTIONS INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate SKYWORKS SOLUTIONS INC (SWKS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company shows weak operating cash flow."