Why Resonant Could Be The Next Qualcomm Or Skyworks Solutions
- Resonant creates innovative filter designs for radio frequency (“RF”) front ends for mobile devices and is pioneering the biggest fundamental change to filter design in more than 80 years.
- Surging growth in mobile data traffic due to consumer demand for wireless broadband connectivity is creating an unprecedented need for high performance RF front-ends.
- Resonant's circuit design, which enables front-end manufacturers to make a single filter that can switch between multiple channels, could potentially be included in virtually every mobile device manufactured.
- With its development agreement with Skyworks advancing, a substantial patent portfolio, and a highly-profitable licensing model, RESN is well-positioned to become a profit machine.
- RESN is valued at ~$50 million in a space where comparables Qualcomm, ARM Holdings, and Skyworks have market caps of $125 billion, $21 billion, and $10 billion, respectively.
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Dec. 31, 2014, 4:42 PM
- Resonant (RESN +12.6%) blasted off on the last day of a volatile 2014. After falling as low as $4.93 in October, shares are now up nearly 2x from May's $6 IPO price.
- The RF filter tech developer, still in development stage and carrying just a $71M market cap, has found multiple supporters among SA authors (I, II).
Dec. 30, 2014, 12:48 PM
Nov. 19, 2014, 11:27 AM
- Resonant (RESN +10.5%) is now up 24% over the last two trading days, and 71% since Nov. 11. Today's volume (246K shares) is already over 4x a 3-month average of 56K.
- SA author Lou Basenese made a bull case for the RF filter tech developer/Skyworks partner on Nov. 10, noting Resonant's technology (if successfully commercialized) could replace BAW duplexers within mobile devices with SAW duplexers that cost less than half as much.
Nov. 12, 2014, 12:45 PM
Aug. 18, 2014, 12:26 PM
- In an article embargoed until 6AM Tuesday, Benjamin Padnos argues Resonant's (NASDAQ:RESN) RF front end designs are well-positioned to gain share due to the performance demands of modern phones containing 4G modems.
- Padnos thinks Resonant's technology, which can allow phones to use a single RF filter that switches between channels, could "potentially be included in virtually every mobile device manufactured."
- He also highlights the company's patent portfolio, Skyworks partnership, and ~$50M market cap.
- Shares are moderately above May's $6 IPO price, but still well below their $10 opening trade. Superconductor Technologies (SCON +2.4%) owns 11.6% of Resonant; its market cap is currently at $38M.
Aug. 13, 2014, 5:24 PM
Jul. 18, 2014, 2:51 PM
- "We believe Skyworks’ (SWKS +13.5%) diverse analog portfolio is enabling content share gains in its handset customer base," writes Canaccord after taking in the RF component giant's FQ3 beat and very strong FQ4 guidance.
- Canaccord thinks the FQ4 outlook is due to a mixture of strong iPhone 6 content share, growing sales of higher dollar-content integrated solutions to Chinese/emerging markets OEMs (gaining Android share), and "growing traction" for the company's non-phone analog IC business.
- 802.11ac Wi-Fi, mobile infrastructure, and embedded products (the proverbial "Internet of Things") are some of the non-mobile RF markets Canaccord sees Skyworks growing its sales to. Needham, for its part, also sees the smart grid, automotive, and medical markets providing a boost.
- On the CC (transcript), CEO David Aldrich declared broader mobile RF demand is benefiting from the need to support a larger number of spectrum bands - Avago (AVGO +4.3%) also benefits from this - as well as growing system complexity (driving a shift towards integrated solutions) and OEM efforts to improve signal performance.
- RF component peers Avago, RF Micro (RFMD +6.7%), TriQuint (TQNT +6.8%), and Resonant (RESN +7%) are outperforming amid a tech rally, as are several other mobile suppliers. INVN +3.9%. HIMX +2.9%. OLED +5.3%. CRUS +2.9%.
May. 29, 2014, 12:50 PM
- After pricing its 2.7M-share IPO at $6 (in-line with expectations), Resonant (RESN) opened at $10 and is currently at $8.91, up 48.6%. That gives the RF filter developer a $57.7M valuation.
- Resonant, still in development-stage, has developed filter technology (referred to as ISN) it asserts can both deliver improved performance and enable tunable designs (can cut down on a device's filter count and save space).
- The company is looking to strike licensing deals that involve royalty payments for RF front-end modules using its IP. It had a Q1 net loss of $3.95M.
- Resonant has a partnership with RF component giant Skyworks (SWKS +1.8%) to develop an RF duplexer it thinks can cost less than half as much as rival solutions. It also plans to develop tunable filter designs on its own.
- Superconductor Technologies (SCON -0.7%) owns 11.6% of Resonant post-IPO.
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