Needham analyst Nick Doyle maintained a Buy rating on Qorvo (QRVO – Research Report) today and set a price target of $90.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Nick Doyle’s rating is based on Qorvo’s recent performance and future prospects. The company has demonstrated strong results, particularly with a significant win in the ET PMIC sector and record achievements in the Aerospace & Defense division. These successes are expected to provide a positive momentum for Qorvo moving forward, especially with the potential for increased internal modem market share.
Additionally, while there are some concerns about macroeconomic uncertainties and potential tariff impacts, these factors have not significantly affected Qorvo’s performance this quarter. The company’s strong position in the Aerospace & Defense market, bolstered by international demand, further supports the positive outlook. As a result, despite a slight adjustment in the price target due to broader market conditions, the overall recommendation remains a Buy.
In another report released today, Benchmark Co. also upgraded the stock to a Buy with a $95.00 price target.