KeyBanc Downgrades Skyworks Stock Amid Concerns Over Market Conditions
KeyBanc downgraded Skyworks Solutions (SWKS) from 'Overweight' to 'Sector Weight', citing deteriorating market conditions and the impact of memory shortages on smartphone demand. The firm previously upgraded SWKS due to its pending merger with Qorvo, but now believes the expected synergies may not materialize as anticipated.
Topics: Market Conditions Mergers & Acquisitions Semiconductors