B. Riley analyst Craig Ellis initiated coverage of Akoustis Technologies with a Buy rating and $9.25 price target. The analyst believes the company offers one of the semiconductor sector’s "most robust" 5G sales growth and gross margin expansion outlooks. Akoustis’ single-crystal bulk acoustic wave technology is technically robust with a strong patent portfolio and positioned at the radio frequency market’s "growthier high end," the analyst tells investors in a research note. The firm believes signs of mobile volume ramps, continued WiFi growth, and progress to cash flow breakeven are stock catalysts.
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