Skyworks downgraded to Neutral from Buy at B. Riley

B. Riley downgraded Skyworks (SWKS) to Neutral from Buy with a price target of $65, down from $110. The company announced an “historic share loss” at its number one customer Apple (AAPL) in the next generation iPhone model in Q4, and simultaneously announced the unexpected departure of nearly decade-long CEO Liam Griffin, the analyst tells investors in a research note. Riley now sees “unusual uncertainty in what’s often been a fairly predictable model.”