Qorvo price target raised to $125 from $110 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Qorvo (QRVO) to $125 from $110 and keeps a Buy rating on the shares. The firm notes Qorvo reported solid results for the December quarter and an above the street guide for the March quarter. Craig-Hallum remains positive on the long-term prospects for the company as it is seeing normalized channel inventory levels and expects content growth with both Apple (AAPL) and Android to continue. Further, the firm highlights the company announced they signed a definitive agreement to acquire Anokiwave, which supplies high-performance silicon integrated circuits for Defense and Aerospace, SATCOM, and 5G applications.