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Fly News Breaks for July 22, 2016
SWKS
Jul 22, 2016 | 07:55 EDT
Canaccord noted Skyworks (SKWS) reported in-line Q3 results and guidance. The firm believes the company will not return to year-over-year growth due to inventory issues and weaker sales to its leading customer, Apple (AAPL). Canaccord expects Skyworks' new CEO to execute on the company's current business models while still considering acquisitions to bolster growth. Canaccord lowered its price target to $92 from $95 on Skyworks shares and maintains its Buy rating on the stock.
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