Skyworks price target lowered to $72 from $83 at Citi

Citi lowered the firm’s price target on Skyworks (SWKS) to $72 from $83 and keeps a Sell rating on the shares. The company guided its December quarter below the Street, mostly driven by slower than expected recovery in the broad market, the analyst tells investors in a research note. The firm lowed 2024 and 2025 earnings estimates on weaker broad markets, lower gross margins, and higher operating expense.