Skyworks partner Resonant turns in a strong IPO

|About: Resonant (RESN)|By:, SA News Editor

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.