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Fly News Breaks for October 8, 2015
PMCS, SWKS
Oct 8, 2015 | 07:47 EDT
Brean Capital lowered its price target on Skyworks (SWKS) to $100 from $120 following its announced acquisition of PMC-Sierra (PMCS). The firm is encouraged by the company's efforts to diversify away from mobile and leverage its scale and supply chain into high growth markets, but lowered its target due to compressing market multiples. Brean Capital maintained its Buy rating on Skyworks shares.
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