Qorvo price target raised to $142 from $125 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss raised the firm’s price target on Qorvo (QRVO) to $142 from $125 and keeps a Buy rating on the shares. The firm continues to highlight Qorvo’s increase in content with Apple (AAPL) going into the next iPhone launch. Craig-Hallum believes the bulk of the up sequential guide is Apple offsetting a sequential decline in Android phones. Qorvo is ideally positioned if Apple’s new AI-enabled phone generates excitement. The company also reported better results for the June quarter and guided above the Street for September, the firm adds.