Needham analyst Nick Doyle maintained a Buy rating on Qorvo (QRVO – Research Report) today and set a price target of $90.00.
Nick Doyle’s rating is based on Qorvo’s recent performance and future prospects. The company has demonstrated strong results, particularly with a significant win in the ET PMIC sector and record achievements in the Aerospace & Defense division. These successes are expected to provide a positive momentum for Qorvo moving forward, especially with the potential for increased internal modem market share.
Additionally, while there are some concerns about macroeconomic uncertainties and potential tariff impacts, these factors have not significantly affected Qorvo’s performance this quarter. The company’s strong position in the Aerospace & Defense market, bolstered by international demand, further supports the positive outlook. As a result, despite a slight adjustment in the price target due to broader market conditions, the overall recommendation remains a Buy.
In another report released today, Benchmark Co. also upgraded the stock to a Buy with a $95.00 price target.