Roth MKM analyst Suji Desilva lowered the firm’s price target on Akoustis to $3 from $5 and keeps a Buy rating on the shares after the company reported quarterly results. The firm believes Akoustis continues to ramp its core Wi-Fi and wireless infrastructure segments across tens of design wins secured in the last several quarters. Roth added that he expects Akoustis to benefit from higher content as Wi-Fi cuts over the advanced Wi-Fi 6E/7 in the calendar year 2024 timeframe.
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