Deutsche Bank Downgrades Skyworks Solutions to Hold, Reduces PT to $30

Deutsche Bank downgraded its rating on Skyworks Solutions (NASDAQ:

) from Buy to Hold. At the same time, Deutsche Bank reduced its price target on the company's stock from $40 to $30. In a research report published today, Deutsche Bank states, "Our price target is based on a DCF analysis using a 10.5% discount rate and 5% growth rate, which is based on our estimate of long-term industry growth. Key downside risks are Skyworks' ability to garner design wins and the overall level of demand for handsets among consumers. Up/downside risks include unanticipated shifts in consumer sentiment, mobile handset demand, and consumer handset purchasing preferences as well as the potential for other entrants to use alternative technologies for Skyworks addressable market." On Monday, Skyworks lost 4.02% of its value and is trading around $22.23.