UPDATE: Canaccord Lowers PT on Skyworks Solutions on Possible iPhone 5S Summer Launch

In a report published Wednesday, Canaccord Genuity analyst T. Michael Walkley reiterated a Buy rating on Skyworks Solutions SWKS, but lowered the price target from $31.00 to $26.00. In the report, Walkley noted, “Based on our handset market analysis and discussions with suppliers, we believe Apple could launch a refreshed iPhone 5S this summer or during Q3/C2013 versus our initial June launch expectation. For Skyworks, we believe the potential near-term softer sales at leading customer Apple are somewhat offset by strong RFIC sales to competing LTE smartphone platforms along with ramping HPA portfolio sales.” Skyworks Solutions closed on Tuesday at $21.64.