Loop Capital analyst Gary Mobley initiated coverage of Qorvo (QRVO) with a Hold rating and $73 price target For the past few years, Qorvo and smartphone chip peers have been consensus shorts, and these shorts have been rewarded, the analyst tells investors in a research note. Against this backdrop, the firm believes Qorvo should continue to face near-term headwinds from the changing market dynamics in the Android smartphone market, particularly in the China Android market.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QRVO:
- Qorvo initiated with a Hold at Loop Capital
- From Salesforce (CRM) to Super Micro Computer: October’s Best and Worst Performing Stocks
- Alphabet, AMD report Q3 earnings beats: Morning Buzz
- Alphabet upgraded, Boeing downgraded: Wall Street’s top analyst calls
- Qorvo price target lowered to $105 from $142 at Craig-Hallum