Susquehanna raised the firm’s price target on Qorvo (QRVO) to $75 from $65 and keeps a Neutral rating on the shares. The firm said they reported better March results/June guidance, largely driven by upside in the Advanced Cellular Group (ACG). ACG came in roughly $50M better as its envelope tracker (ET) to support Apple’s (AAPL) internal modem was included in the spring launch of the iPhone 16e. Management believes content at Apple will grow 10% year-over-year in iPhone 17.
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Read More on QRVO:
- Qorvo’s Market Position: Balancing Growth Opportunities and Tariff Challenges
- Qorvo: Strong Performance and Positive Outlook Amid Market Challenges
- Qorvo upgraded to Buy from Hold at Benchmark
- Qorvo’s Market Challenges and Macroeconomic Uncertainties Justify Sell Rating
- Qorvo price target raised to $70 from $60 at Barclays
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