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The telecom space has been making a lot of noise lately with news items from some of the most well-known companies in the space attracting investors' attention. The biggest news of all has been the Softbank deal for Sprint Nextel in which the Japanese company agreed to buy 70% of Sprint Nextel (NYSE:S) for just over $20 billion. Not to be outdone, T-Mobile, owned by Deutsche Telekom, earlier in October announced a transaction with Metro PCS (PCS) whereby T-Mobile agreed to purchase 74% of the combined company for $1.5 billion in cash. Clearwire (CLWR), one of the most talked about stocks, has seen interest in its shares rekindle with the after mentioned transactions as well as news of a major holder wanting the company to sell portions of its spectrum. With investors' eyes focused in on the telecom sector, here are three stocks that may see interest in their shares rise as a result.

Leap Wireless (LEAP) provides innovative, high-value wireless services to a young and ethnically diverse customer base. With the value of unlimited wireless services as the foundation of its business, Leap pioneered its Cricket service. Cricket products and services are available nationwide through company-owned stores, dealers, national retailers and at MyCricket.com. Through its affordable, flat-rate service plans, Cricket offers customers a choice of unlimited voice, text, data and mobile Web services.

LEAP was one of the stocks mentioned to be next in play in reaction to the T-Mobile/Metro PCS deal. With significant value sitting on its balance sheet in the form of its spectrum, a deal for the company may very well make sense for a number of suitors. In fact, the same Metro PCS that is merging with T-Mobile attempted to merge with LEAP previously. However, nothing has materialized as of yet. Oppenheimer did upgrade the stock though and slapped a $10 price target on it, suggesting upside of nearly 100% from today's price levels.

Telular (NASDAQ:WRLS) provides remote monitoring solutions for business and residential customers, enabling security systems and industrial applications to exchange actionable information, typically through the use of wireless technology. With over 20 years of experience in the wireless industry, Telular has developed solutions to deliver remote access for voice and data without significant network investment or disruption. With its recurring revenue stream and low capital expenditures, the company is a cash cow that has been returning cash to shareholders to a nice clip. Telular has spent $9.6 million on share repurchases and has paid out $26.7 million in dividends since 2008.

A stock that is worth mentioning here also is AirTouch Communications (OTCPK:ATCH). It is a bit off the radar but has the technology to potentially revolutionize the telecommunications industry. The company is engaged in the development and marketing of patented telecommunications devices capable of converging voice, data, video, security, entertainment and other advanced communications services from various service providers on one piece of hardware.

The company's two lines of products include HomeConneX, that amplifies cell phone signals for a better connection and SmartLinX, which connects smartphones to land lines. SmartLinX allows you to use your smartphone over your landline. SmartLinX increases call quality and allows users to use their smartphone features over the land line. Furthermore, this allows users to save their cell phone minutes. With landlines in decline, SmartLinX has big potential to capitalize in this market. The HomeConneX set of products has been developed for the emerging markets as developing countries look for ways to improve connectivity throughout their respective countries. Using HomeConneX, the signal for both voice and data connection is amplified, solving the issue of a broad network build out.

Source: News In Telecom Space Brings Interest Into Sector