3 Wireless Infrastructure Stocks to Watch as Starlink Enters 5G

Wireless investing just got more interesting. Starlink’s move to build a terrestrial 5G network using Qualcomm’s Dragonwing platforms introduces a fresh contender into an already crowded field and puts existing carriers on notice. New capital spending on tens of thousands of cell sites, plus talk of AI native 6G, could reshape where money flows. This article walks through three stocks exposed to that story and why they may warrant a closer look.

The three stocks in this article are only a starter set, and the full screen surfaced 18 more 5G and next generation wireless infrastructure suppliers with equally compelling stories that are not covered here. To explore the broader opportunity, go to 5G and Next-Generation Wireless Infrastructure Suppliers screener to identify, compare, and analyze potential high conviction ideas tailored to your view of the sector.

Semtech (SMTC)

Overview: Semtech is a semiconductor and IoT connectivity company that supplies chips, routers, and cloud services used in 5G capable wireless infrastructure and connected devices.

Operations: Semtech generates about $409 million from Analog Mixed Signal and Wireless, $401 million from Signal Integrity, and $365 million from IoT Systems and Connectivity, with meaningful exposure across China, broader Asia-Pacific, the United States, Europe, and the rest of North America.

Market Cap: US$11.9b

Semtech matters in this 5G and next generation wireless theme because it sells the high speed connectivity and IoT gear that help move data between cell sites, data centers, and edge devices as networks become denser and more AI heavy.

"The build out of the enlarged indium phosphide photonics footprint, including plans to 3x to 4x fab capacity with an additional cleanroom, gives Semtech room to lift its dollar content per optical module as customers move toward 1.6T and 3.2T architectures, which can support both top line expansion and mix driven margin improvement."

What really matters for investors is how one subtle capacity and pricing pressure plays out against those ambitious margin expectations.

To see how that tension between pricing power and capacity expansion really plays out, read the full narrative for Semtech and see what could be masking or accelerating Semtech’s next chapter.

Aviat Networks (AVNW)

Overview: Aviat Networks supplies microwave and wireless access networks that carry 5G and private traffic between cell sites and critical infrastructure users.

Operations: Aviat Networks generates about US$440 million from wireless networking products, services and software, with roughly US$210 million from the United States and the rest from Europe, Africa, the Middle East, Latin America and Asia Pacific.

Market Cap: US$258 million

Aviat Networks matters for this 5G and next generation wireless theme because its radios, routers and software form the transport layer that connects new cell sites, private grids and remote locations where fiber buildouts either stall or become uneconomic.

"Private networks remain the largest segment for Aviat Networks, with utilities nearing 10% of total revenue and Aprisa bookings on track to grow more than 50% in FY26, which points to additional contract wins in utility and public safety projects that can feed top line growth over several years."

What investors may care most about is how one unresolved margin and execution pressure shapes the payoff from those long-dated project funnels.

That execution risk is only half the story, and the full narrative for Aviat Networks explains how Aviat Networks could turn long-cycle projects into accelerating, less correlated cash generation.

CEVA (CEVA)

Overview: CEVA licenses 5G baseband, connectivity and edge AI silicon and software IP that powers chips inside wireless infrastructure and connected devices worldwide.

Operations: CEVA generates about $116 million from licensing intellectual property, with revenue concentrated in China at $67 million and the United States at $28 million.

Market Cap: US$823 million

CEVA matters for this 5G and next generation wireless theme because its IP helps third party chipmakers build the radios and edge processors that could sit inside future cell sites, small cells and connected devices plugging into denser networks such as Starlink’s planned buildout.

"Accelerating customer adoption of CEVA's Edge AI NPUs (as evidenced by multiple new, high-impact licensing deals and the integration of NeuPro architectures across diverse markets like audio, video, and infrastructure) lays the foundation for materially higher royalty revenue per device as these AI-enabled products ramp into mass production over the next 18 to 24 months."

What really moves the needle for CEVA shareholders is how one quiet shift in licensing mix influences future margins and the value of each design win.

That quiet shift is exactly what the full narrative for CEVA unpacks, showing how CEVA’s licensing mix could accelerate royalties while reshaping the risk profile of each new design win.

Seeking Fresh Alternatives Before They Fly

Fresh opportunities often move from quiet to crowded quickly. Some ideas are already building momentum while they stay under the radar for now, so consider researching them early.

• Spot resilient compounders before the crowd by scanning the 31 resilient stocks with low risk scores and focus your research on businesses where downside risk scores stay firmly contained.
• Target steady cash generators while yields still look attractive by reviewing the 5 dividend fortresses and zero in on companies built to keep paying investors.
• Follow the buildout of critical energy infrastructure by tracking the 16 nuclear energy infrastructure stocks and concentrate on operators involved in long-term power demand.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com