Skyworks price target lowered to $83 from $85 at Citi

Citi analyst Atif Malik lowered the firm’s price target on Skyworks to $83 from $85 and keeps a Sell rating on the shares. The company reported a modestly better March quarter and guided the June quarter below the Street, the analyst tells investors in a research note. The firm says mobile demand is expected to be below normal seasonality or 20%-25% quarter-over-quarter due to weaker demand trends and excess channel inventory.