Skyworks downgraded to Hold from Buy at TD Cowen

TD Cowen analyst Matthew Ramsay downgraded Skyworks (SWKS) to Hold from Buy with a price target of $90, down from $125. The company’s in-line fiscal Q2 results were overshadowed by a “material” Q3 guide-down with mobile expected to be down well below seasonal levels on excess inventory, the analyst tells investors in a research note. The firm says Skyworks’ 10% content loss at Apple (AAPL) marks a “major headwind” for the shares, providing uncertainty into its mobile content growth going forward.