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Fly News Breaks for July 1, 2016
SWKS
Jul 1, 2016 | 07:25 EDT
As previously reported, Mizuho downgraded Skyworks to Neutral from Buy with a $68 price target. Analyst Vijay Rakesh said macro uncertainties of Brexit, a muted 2H 2016 demand environment, and seasonally weaker Samsung/China handset market will make for a challenging 2H 2016. The analyst believes Skyworks's new CEO needs to get more aggressive and diversify as its core handset market slows.
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