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      Akoustis Technologies Inc. (AKTS) Stock Dips Following Disclosure of Financial Reports for Q2 2021 - Stocks Telegraph

      By Shimrez Hyder

      Published on

      August 30, 2021

      4:36 PM UTC

      Akoustis Technologies Inc. (AKTS) Stock Dips Following Disclosure of Financial Reports for Q2 2021 - Stocks Telegraph

      Akoustis Technologies Inc. (AKTS) stock prices dipped by 11.11% some time after market trading commenced on August 30th, 2021. This brought the price per share down to USD$8.88 early on in the trading day.

      Promising Financial Reports

      August 30th, 2021 saw the integrated device manufacturer of patented bulk acoustic wave high-band RF filters for mobile and other wireless applications release financial reports for Q2 2021. Revenues for the fourth quarter of the fiscal year 2021 were reported at USD$6.6 million, representing a 270% year-over-year increase. This is despite continuing headwinds stemming from a combination of the Coronavirus and semiconductor supply chain challenges. AKTS stock reported a solid liquidity position as of June 30th, 2021, with USD$88.3 million in cash.

      AKTS Stock Ramps Up Production

      The fourth quarter of fiscal 2021 saw the delivery of record numbers of XBAW filter shipments. The company’s existing design win pipeline also serves to support a return to double-digit sequential revenue growth in the December quarter. This will result from the ramping up of the volume of XBAW RF filter solutions to multiple customers across the WiFi 6, WiFi 6E, 5G network infrastructure, and defense markets.

      AKTS Stock’s 5G Technology

      AKTS stock reported the continuation of strong demand and a growing sales to funnel for their proprietary WiFi 6E, 5G mobile, and CBRS XBAW filters. The company’s continued efforts in 5G mobile have been met with the recently announced foundry agreement. This saw AKTS ship early 5G mobile filter prototypes to their tier-1 mobile customer, with the company on track to deliver two fully qualified filters next calendar year.

      Cutting-edge Communications Solutions

      The company is actively facilitating the delivery of volume production of its WiFi 6 tandem filter solutions, shipping multiple 5G small cell XBAW filter solutions. The company is also allocating resources towards delivering initial designs of its new 5G mobile filter solutions to multiple customers. AKTS stock is now entering the market on the basis of its new WiFi 6E coexistence XBAW filter solutions. the company expects to increase the annual production capacity at its New York fab up to roughly 500 million filters annually by the end of calendar 2021.

      Future Outlook for AKTS Stock

      The company reported a promising quarter, consolidated by the strength of its financial reports for the last quarter of fiscal 2021. AKTS stock is poised to capitalize on the opportunities presented to it in order for it to recover from recent volatility in stock price. Investors are hopeful that management will be able to usher in consistent organic growth over the long term.

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