Wells Fargo analyst Gary Mobley initiated coverage of Qorvo with an Overweight rating and $135 price target. Radio frequency front end companies such as Qorvo stand to benefit from the increased RF complexities of cellular, Wi-Fi, and other Internet of Things radio technologies, Mobley tells investors in a research note. Further, Qorvo should continue to benefit from a fewer number of competitors as only the strongest radio frequency front end vendors can address the integration and volume requirements of leading smartphone manufacturers, contends the analyst.