Qorvo Inc (QRVO) PT Lowered to $90 at UBS

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Go back to Qorvo Inc (QRVO) PT Lowered to $90 at UBS

JPMorgan Double Downgrades Qorvo (QRVO) After Earnings, Cites Several Risks

November 3, 2022 9:19 AM EDT

Qorvo (NASDAQ: QRVO) shares are trading 5% lower after the companys full-year forecast missed analyst expectations. Moreover, the selloff was fueled by a double-downgrade of QRVO stock by JPMorgans analyst Harlan Sur.

Qorvo reported an EPS of $2.66 on revenue of $1.16 billion, beating the consensus of EPS of $2.54 on revenue of $1.13 billion.

Qorvo delivered a solid September quarter, supported by a large customer launch and strength in defense and power. In the December quarter, Qorvo is continuing... More