Mizuho analyst Vijay Rakesh downgraded Qorvo (QRVO) to Underperform from Neutral with a price target of $66, down from $70. The firm cites its supply chain checks and handset industry call for the downgrade. Handsets represent 60%-70% of revenue for Skyworks and Qorvo, and “persistent” memory shortages are compressing unit volumes and inflating average selling prices, the analyst tells investors in a research note. Mizuho now estimates global handset volumes will down 10%-plus year-over-year in 2026 and another 5% in 2027.
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