Mizuho analyst Vijay Rakesh lowered the firm’s price target on Skyworks to $122 from $125 and keeps a Buy rating on the shares post the fiscal Q3 report. While pockets of inventory remain, Skyworks is well positioned with iPhone ramps and rebounding Android into 2024, the analyst tells investors in a research note. The firm says inventory headwinds remains as a China rebound is a 2024 story.
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