Mizuho Downgrades Qorvo Inc (QRVO) to Underperform

Mizuho analyst Vijay Rakesh downgraded Qorvo Inc (NASDAQ: QRVO) from Neutral to Underperform with a price target of $60.00 (from $70.00).

The analyst comments: "Downgrade to Underperform, Lower Estimates and PT to $75 from $87 ~11.5x our F27E EPS (below historical avg. and our prior ~12x with downside EPS) with topline growing <3% y/y through F28E, despite recent iPhone content gains >10% y/y. We cut estimates below cons by 6% for F27E and ~13% for F28E, as we believe strong A&D and Industrials more than offset by slower ACG growth."

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 $92.13 yesterday.

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