KeyBanc analyst John Vinh reiterated a Sector Weight rating and {REMOVEPT} price target on Skyworks Solutions (NASDAQ: SWKS).

The analyst commented: "While SWKS posted results and guidance that were largely in line with expectations, mgmt disclosed it is losing significant share in the next-generation iPhone 17. More specifically, SWKS indicated it will be dual-sourced on the iPhone 17 likely on the DRX socket, which will be partially offset by content increases on SKUs with AAPL's internal modem, with blended content expected to be down 20-25% as compared to the iPhone 16. SWKS plans to continue to invest as it seeks to regain share in the iPhone 18. Accordingly, CEO Liam Griffin announced he will be stepping down and will be succeeded by Philip Brace. We're lowering ests and remain Sector Weight."

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Shares of Skyworks Solutions closed at $87.08 yesterday.