Skyworks price target lowered to $70 from $90 at Loop Capital

Loop Capital lowered the firm’s price target on Skyworks (SWKS) to $70 from $90 and keeps a Hold rating on the shares after its Q1 results.. The most important takeaway from the earnings call was the admission by management that Skyworks has lost additional content iPhone 17 revenue, which will result in a blended average content loss of about $2.25 per share for Skyworks’ iPhone-specific sales, meaning the company will lose about $500-$550MM annually in sales linked to iPhone production, the analyst tells investors in a research note.