Analyst Christopher Rolland from Susquehanna reiterated a Hold rating on Qorvo (QRVO – Research Report) and increased the price target to $75.00 from $65.00.
Christopher Rolland has given his Hold rating due to a combination of factors, including Qorvo’s recent performance and future projections. The company reported better-than-expected results for March and provided optimistic guidance for June, primarily driven by the Advanced Cellular Group’s success with Apple’s iPhone 16e. However, while Qorvo is well-positioned for future content growth, particularly with Apple and Samsung, there are concerns about the company’s ability to sustain this momentum.
Additionally, while Qorvo’s Defense and Aerospace segment showed strong performance, other areas like High Performance Analog and Connectivity & Sensors underperformed. Despite expectations of double-digit growth in these segments by FY26, there is skepticism about the aggressive ramp-up needed in the latter half of the year. Furthermore, potential tariff impacts and less-than-expected gross margin improvements add to the cautious outlook. As a result, while the price target has been raised, the Hold rating reflects a balanced view of the opportunities and risks involved.
According to TipRanks, Rolland is a 5-star analyst with an average return of 12.2% and a 49.90% success rate. Rolland covers the Technology sector, focusing on stocks such as Intel, Nvidia, and NXP Semiconductors.
In another report released today, TD Cowen also maintained a Hold rating on the stock with a $80.00 price target.