B. Riley analyst Craig Ellis lowered the firm’s price target on Skyworks (SWKS) to $120 from $140 and keeps a Buy rating on the shares ahead of the quarterly earnings report on October 31. The firm expects at least in-line Q4 results but isn’t ruling out moderate downside consensus 1Q25 risk closer to the firm’s $1.078B/$1.66 estimates if iPhone 16 sales moderate above-seasonally or if Integrated Mobile’s re-acceleration with its WiFi 6E/7 secular drivers are more than offset by continuing end market softness, the analyst tells investors in a research note.
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