UPDATE: Benchmark Assumes Qorvo Inc (QRVO) at Buy
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Benchmark analyst Dave Williams assumes coverage on Qorvo Inc (NASDAQ: QRVO) with a Buy rating and a price target of $225.00.
The analyst comments "We are assuming coverage of QRVO with a Buy rating and $225 price target. Not surprisingly, following the strong June report from Skyworks last week, QRVO delivered another strong quarter and outlook as the demand environment remains strong and the content expansion story continues to provide significant opportunities. Connectivity continues performing well with new products being well received, coupled with accelerating penetration of 5G handsets, transition to WiFi-6 and expanding multi-protocol adoption in an increasingly diverse set of end products. Outside of connectivity, adoption of power management, biologic testing, and touch solutions is driving SAM expansion and revenue diversity to extend the revenue trajectory beyond the core handset market. We continue to appreciate incremental content gains in 5G with increasing complexity as the technology proliferates across an expanding set of use cases."
Shares of Qorvo Inc closed at $193.88 yesterday.
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