UPDATE: Oppenheimer Reiterates Outperform, Lowers PT to $25 on Skyworks Solutions

Oppenheimer maintains its Outperform rating on Skyworks Solutions

as a solid quarter shows thesis on the company is still intact. Price target os lowered to $25 on multiple compression given headwinds on macro factors. Oppenheimer says, " We would remain buyers given favorable RF trends and our comfort that management will continue to execute at a high level. The key drivers are share gains and increased complexity within cellular and TAM/customer expansion in HPA (organically and with the recent SiGe and AATI acquisitions)." SWKS closed at $19.23 per share on Thursday.