Skyworks downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst John Vinh downgraded Skyworks Solutions to Sector Weight (SWKS) from Overweight without a price target. The analyst believes the company’s ability to drive content growth given maturity in the smartphone market is increasingly becoming more challenging. Significant content growth from 5G smartphones is largely behind us, as 5G smartphones are already over 60% penetrated, the analyst tells investors in a research note. Further, KeyBanc thinks Skyworks is seeing increasing competition in both the Apple (AAPL) ecosystem from Murata and Qualcomm (QCOM) and in Android, especially in the China domestic market.