Qorvo Inc (QRVO) PT Raised to $183 at Mizuho Securities

February 4, 2021 6:45 AM EST
Get Alerts QRVO Hot Sheet
Price: $191.86 -0.86%

Rating Summary:
    25 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Mizuho Securities analyst Vijay Rakesh raised the price target on Qorvo Inc (NASDAQ: QRVO) to $183.00 (from $180.00) while maintaining a Buy rating.

The analyst commented, "QRVO reported a good DecQ rev/EPS of $1.1B/$3.08 and guided to a strong MarQ at $1.04B/$2.42 (cons. $944M/$2.01) ~10% above consensus but below peer SWKS guide of 24% above consensus. GMs were 54.4% in the DecQ and MarQ was guided to 50.8% (cons. 51%) with some product maturity and lower mix of IDP revenue. While near-term GM outlook and JunQ visibility are headwinds, we believe a strong 5G handset ramp growing 100%+ y/y in C21E and potentially C22E should support a positive C21-22 outlook. Maintaining our Buy, raising estimates, and PT to $183 (prior $180) as we see a multi-year 5G handset and base station ramp ahead."



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Analyst Comments, Analyst PT Change