Susquehanna upgrades ‘RF integration master’ Skyworks to Positive

As previously reported, Susquehanna analyst Christopher Rolland upgraded Skyworks to Positive from Neutral with a price target of $135, up from $110. In April 2021, the firm called for the top of the semiconductor cycle, but now it is calling for the bottom in this cycle, at least for consumer, PC and handset-related names. As 2023 sets up as "a softer year" for Apple (AAPL) sell-through, the firm believes Skyworks is now pivoting to capture more premium Android and contends that "content opportunities still abound for this RF integration master."