Oppenheimer analyst Rick Schafer lowered the firm’s price target on Akoustis to $3 from $6 and keeps an Outperform rating on the shares. The firm notes the company reported lackluster results/outlook, with Q4 top line just shy of expectations, while Q1 outlook missed by 25%. Further, management sees WiFi slowdown persisting through CY23 before normalizing in Q3.
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