Qorvo price target raised to $100 from $87 at UBS

UBS analyst Timothy Arcuri raised the firm’s price target on Qorvo (QRVO) to $100 from $87 and keeps a Neutral rating on the shares. Qorvo appears to be benefiting from stronger volume flows tied to Apple (AAPL)-related demand, with improving gross margins suggesting better product mix and operating efficiency, though the outlook remains clouded by uncertainty around sustainability of gains versus structural revenue pressure and potential competitive share loss in its broader Apple exposure, the analyst tells investors in a research note.