Piper Sandler lowered the firm’s price target on Skyworks (SWKS) to $95 from $115 and keeps a Neutral rating on the shares. The firm views AI compute driving the incremental growth amongst semiconductor end markets while analog and mobile-oriented names lag fundamentally. The share loss coupled with “lackluster performance” in handset units makes it difficult for the firm to see incremental upside to numbers from here, Piper told investors.
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