Our thesis on the shares of this RF semiconductor company is multifold. We see the company's business benefiting from the 5G smartphone upgrade cycle, particularly given its higher dollar content per 5G device than 4G and 3G ones. As that multi-year opportunity matures, 5G will enable the Internet of Things (IoT) and connected car markets as well as other opportunities for the company's RF semiconductors. We also appreciate the company's growing track record for growing its dividends.

2022 Target Price: $210; Rating: One