Goldman Sachs Assumes/Downgrades Qorvo Inc (QRVO) at Neutral

Goldman Sachs assumed coverage on Qorvo Inc (NASDAQ: QRVO) with a Neutral rating (prior Buy) and a price target of $42.00. Analyst Toshiya Hari noted execution risk.

"Qorvo’s closest competitor is Skyworks, and similar to SWKS, the stock is down 22% YTD underperforming the SOX by 1500bps, and is now trading near trough multiples; however we favor Skyworks (Buy) given its better return profile (Q1 vs Q4 for Qorvo on our scorecard), shareholder return (64% of FCF) and concern over whether Qorvo can execute on its mid-term targets," said the analyst.

For an analyst ratings summary and ratings history on Qorvo Inc click here. For more ratings news on Qorvo Inc click here.

Shares of Qorvo Inc closed at $37.15 yesterday.

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