Analyst Joseph Moore from Morgan Stanley maintained a Hold rating on Skyworks Solutions (SWKS – Research Report) and decreased the price target to $72.00 from $87.00.
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Joseph Moore’s rating is based on a combination of factors affecting Skyworks Solutions. Despite meeting expectations for the recent quarter, the company faces significant challenges ahead. A major point of concern is the anticipated reduction in content from Apple’s iPhone 17, where Skyworks is expected to lose a substantial portion of its business to a competitor. This shift is expected to pressure revenue, margins, and earnings in the future.
Outside of Apple, the company experiences mixed trends, with expected seasonal fluctuations in the Android market and other broad market segments. Although there is optimism about a broad market recovery, particularly outside the industrial sector, these factors contribute to a cautious outlook. Consequently, while the financials were largely in line with projections, the impending content loss and market dynamics justify a Hold rating.
Moore covers the Technology sector, focusing on stocks such as Nvidia, Broadcom, and Western Digital. According to TipRanks, Moore has an average return of 13.3% and a 56.97% success rate on recommended stocks.