Better Buy: Skyworks Solutions vs. Sierra Wireless
The Internet of Things (IoT) is expected to drive billions of dollars of chip sales. Market research company IC Insights forecasts that the IoT semiconductor market will exceed $31 billion in revenue by 2020, up from $18.3 billion last year.
Not surprisingly, Sierra Wireless (NASDAQ: SWIR) has been in fine form on the stock market over the past year. Shares of the pure-play IoT specialist have shot up more than 27% in the last year thanks to its consistent growth as well as a market-leading share of 32% in IoT connectivity modules. On the other hand, chipmaker Skyworks Solutions (NASDAQ: SWKS) has been trying to make headway into the IoT market as its recent product introductions suggest. And its stock is up 28% over the past year.
But will Skyworks prove to be a better IoT bet than Sierra Wireless?
Source: Fool.com
Skyworks Solutions Inc. Stock
Currently there is a rather positive sentiment for Skyworks Solutions Inc. with 8 Buy predictions and 4 Sell predictions.
However, we have a potential of -2.2% for Skyworks Solutions Inc. as the target price of 56 € is below the current price of 57.26 €.
