In a report released today, Krish Sankar from TD Cowen maintained a Hold rating on Qorvo, with a price target of $95.00.
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Krish Sankar’s rating is based on a combination of factors that reflect both positive and cautious elements in Qorvo’s outlook. The company has shown strong performance in the mobile market, particularly with flagship smartphones, which contributed to a better-than-expected quarter. However, the decline in sales within the China Android market poses a challenge, as it is expected to impact revenue in the latter half of fiscal year 2026.
Additionally, while there are positive developments such as the optimization of manufacturing processes and growth in the Defense/Aerospace sector, these are balanced by the anticipated startup costs associated with consolidating production facilities. The overall market dynamics and potential inventory levels in the mobile sector also contribute to the Hold rating, as further clarity is awaited from major players like Apple and Samsung. Thus, the Hold rating reflects a cautious optimism, acknowledging both the opportunities and risks in Qorvo’s business environment.
According to TipRanks, Sankar is a 5-star analyst with an average return of 18.7% and a 58.45% success rate. Sankar covers the Technology sector, focusing on stocks such as Apple, MKS, and Seagate Tech.
In another report released yesterday, Mizuho Securities also maintained a Hold rating on the stock with a $87.00 price target.