Qorvo price target lowered to $110 from $125 at Needham

Needham lowered the firm’s price target on Qorvo (QRVO) to $110 from $125 but keeps a Buy rating on the shares. The company’s Q4 results were “strong” but its outlook was “underwhelming”, the analyst tells investors in a research note. The FY25 guide was either conservative or it assumes softer than expected unit shipments at Apple (AAPL) given the company’s expected content gains, the firm added.