Loop starts Skyworks at Hold, says needs to grow non-smartphone sales faster

Loop Capital initiated coverage of Skyworks (SWKS) with a Hold rating and $90 price target The firm said that Skyworks needs two things to happen to drive shareholder value, namely: it needs to grow its monetized content at Apple and even Android smartphone makers, and; it needs to grow its non-Apple and non-smartphone sales faster in order to drive the desired revenue diversity. This can be done organically, but more effectively, inorganically, the analyst tells investors in a research note.