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QRVO

Qorvo

$63.59

-0.21 (-0.33%)

, AAPL

Apple

$192.80

-1.355 (-0.70%)

14:37
11/13/18
11/13
14:37
11/13/18
14:37

Qorvo price target lowered to $80 from $95 at KeyBanc

KeyBanc analyst John Vinh noted that Qorvo (QRVO) lowered its Q3 outlook due to recent iPhone demand changes, which he believes is largely related to disappointing demand for Apple's (AAPL) iPhone XR. He lowered his Qorvo estimates and cut his price target on the stock to $80 from $95, but keeps an Overweight rating on Qorvo shares, citing his belief that the company will benefit from RF content gain during the 5G transition.

QRVO

Qorvo

$63.59

-0.21 (-0.33%)

AAPL

Apple

$192.80

-1.355 (-0.70%)

  • 13

    Nov

  • 14

    Nov

QRVO Qorvo
$63.59

-0.21 (-0.33%)

10/03/18
MSCO
10/03/18
NO CHANGE
MSCO
Morgan Stanley cuts semiconductor estimates ahead of earnings season
Morgan Stanley analysts Craig Hettenbach, Joseph Moore and Vinayak Rao cut their estimates for Q4 and 2019 for several seminconductor makers to reflect what they see as the start of an inventory correction that is likely to be most pronounced in autos and industrial applications. Sentiment in the semiconductor group has quickly turned negative, which could lead to trading bounces in stocks, but if estimates start to come down as they expect, it will be difficult for stocks "to work," the analysts tells investors. The analysts lowered their price targets on Amphenol (APH) to $100 from $102, on Analog Devices (ADI) to $108 from $110, on TE Connectivity (TEL) to $102 from $107, on Microchip (MCHP) to $95 from $98, on Maxim Integrated to $59 from $60, on Qorvo (QRVO) to $72 from $75 and on Skyworks (SWKS) to $79 from $80.
10/04/18
KEYB
10/04/18
NO CHANGE
KEYB
Carrier survey indicates healthy start for Apple iPhone XS, says KeyBanc
KeyBanc analyst John Vinh says his initial round of carrier survey for the current Apple (AAPL) iPhone XS cycle indicates "solid" sell-through for the iPhone XS/Max as inventories are lean post launch. Demand for the iPhone XS Max has been the strongest, with the majority of stores being sold out, while inventories for the iPhone XS are very healthy, he adds. The analyst also notes that demand for the new models appear to be better compared to the iPhone 8/X launch last year, driven mainly by the adoption of a larger screen at iPhone XS Max. Additionally, Vinh is encouraged with the robust results despite limited promotional activity. His favorite Apple supply chain names are Broadcom (AVGO), Qorvo (QRVO), Skyworks (SWKS), and Synaptics (SYNA).
11/05/18
MZHO
11/05/18
NO CHANGE
MZHO
Handset RF revenue expectations for 1H19 could see downside, says Mizuho
Mizuho analyst Vijay Rakesh says that while September quarter iPhone units were mostly in-line, Apple (AAPL) had a weaker December quarter guide at $89B-$93B, noting currency headwinds making iPhones costlier. The analyst would add that most consensus Apple iPhone estimates for December quarter are being lowered quarter over quarter post-call, a headwind for more exposed RF suppliers Skyworks (SWKS)/Qorvo (QRVO). Further, Rakesh highlights that Apple would not give color on iPhone/iPad units going forward, a headwind for suppliers with the lack of visibility, and with some of the weaker emerging market currencies the same $1000/$1400 Xs/Xs Max is selling at $1400/$1900 in China/Russia and East European countries. The analyst believes 1H19 handset RF revenue expectations could see downside as higher iPhone ASPs could be a challenge.
11/12/18
SBSH
11/12/18
DOWNGRADE
Target $85
SBSH
Neutral
Citi downgrades Skyworks to Neutral, cuts targets on Nvidia, Qorvo
Citi analyst Atif Malik downgraded Skyworks Solutions (SWKS) to Neutral from Buy and lowered his price target for the shares to $85 from $116. The company is being impacted by broad smartphone weakness, disappointing unit sales of Apple's (AAPL) iPhone XR, and a high Apple concentration, which represented 39% of sales in fiscal 2019, Malik tells investors in a research note. Further, the analyst thinks 5G radio frequency is a 2020 story versus his prior view of 2019. Malik also lowered his price target for Buy-rated Nvidia (NVDA) to $270 from $300 to reflect recent market multiple compression. In addition, the analyst dropped his price target for Neutral-rated Qorvo (QRVO) to $75 from $86. Weak iPhone XR units, where Qorvo won incremental mid-high band dollar content, will have a negative impact on the company's gross margins in 2019, says Mailk.
AAPL Apple
$192.80

-1.355 (-0.70%)

11/13/18
GSCO
11/13/18
NO CHANGE
Target $209
GSCO
Neutral
Apple price target cut to $209 on lower iPhone estimates at Goldman Sachs
Goldman Sachs analyst Rod Hall lowered his iPhone units estimates after Lumentum (LITE) reduced its December quarter revenue guidance by 17% at the midpoint citing reduced shipments from "one of its largest 3D sensing customers," which he assumes to be Apple (AAPL). Overall, he reduced his FY19 total iPhone units estimate by 6% and cut his FY19 revenue forecast for Apple by 3.5%. While Apple pointed to macro and forex driven consumer weakness in emerging markets such as Russia, Brazil, Turkey and India on its earnings call, Hall said he also suspects China also weakened during the quarter. Given the decreased forecasts, He lowered his price target on Apple shares to $209 from $222 and keeps a Neutral rating on the stock.
11/13/18
NORL
11/13/18
NO CHANGE
Target $60
NORL
Outperform
Lumentum price target lowered to $60 from $90 at Northland
Northland analyst Tim Savageaux lowered his estimates for Lumentum (LITE) following the company's pre-announcement of much lower than expected December quarter results due to significant cuts in 3D sensing orders and cut his price target on the shares to $60. However, he does not see this as an issue with Face ID tech in general or Lumentum's share at Apple (AAPL), but likely more a function of handset demand in China, Savageaux tells investors. He maintains an Outperform rating on Lumentum shares.
11/13/18
CHLM
11/13/18
NO CHANGE
Target $60
CHLM
Buy
Lumentum price target lowered to $60 from $85 at Craig-Hallum
Craig-Hallum analyst Richard Shannon lowered his price target for Lumentum (LITE) to $60 from $85 saying its reduced Q2 guidance reflects lower Apple (AAPL) volumes, likely due to issues in China as well as the high ASP of those devices. The analyst believes 3DS remains an excellent area of growth with strong operating margins but the volatility of a single large customer and questions about its unit sell-through have clearly impacted the stock. Until he sees stronger unit demand from Android and Lumentum captures a strong share of that market, Shannon thinks the volatility will remain high. He reiterates a Buy rating on Lumentum shares.
11/13/18
MKMP
11/13/18
NO CHANGE
Target $60
MKMP
Buy
Lumentum price target lowered to $60 from $78 at MKM Partners
MKM Partners analyst Michael Genovese lowered his price target on Lumentum (LITE) to $60 after its negative pre-announcement reflecting an order cut from Apple (AAPL), adding that his average selling price assumptions suggest that the company is anticipating shipments of 30M 3D VCSELs vs. its original view of 50M. The analyst keeps his Buy rating on Lumentum however and contends that the 33% decline in its stock price on the news is overextended. Genovese further states that Lumentum remains the "strong technology and market share leader in the 3D VCSELs" and does not expect its market share to decline.

TODAY'S FREE FLY STORIES

VMW

VMware

$158.32

3.66 (2.37%)

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    Jan

GM

General Motors

$35.68

0.77 (2.21%)

10:40
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CMD

Cantel Medical

$75.82

-0.35 (-0.46%)

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  • 19

    Dec

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$257.42

2.33 (0.91%)

10:32
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12/19
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10:32
Periodicals
Senate to introduce short-term measure to avoid government shutdown, CNBC says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$257.42

2.33 (0.91%)

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10:31
12/19/18
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10:31
General news
Crude inventories for week of December 14 »

Crude oil inventories…

ABX

Barrick Gold

$13.82

-0.07 (-0.50%)

10:30
12/19/18
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10:30
Options
Heavy volume in Barrick Gold downside Jan puts »

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JKS

JinkoSolar

$10.99

-0.05 (-0.45%)

10:29
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  • 23

    Dec

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Treasury Action: flattening is the trade ahead of the FOMC »

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SPY

SPDR S&P 500 ETF Trust

$257.02

1.93 (0.76%)

10:20
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Options
Size ratio spread in SPYders weekly options »

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10:20
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Treasury Action: yields remained pinned lower »

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ULTA

Ulta Beauty

$245.00

4.07 (1.69%)

, MTCH

Match Group

$42.58

0.6 (1.43%)

10:19
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Initiation
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ULTA

Ulta Beauty

$245.00

4.07 (1.69%)

MTCH

Match Group

$42.58

0.6 (1.43%)

SSTI

ShotSpotter

$30.30

1.12 (3.84%)

OKTA

Okta

$66.09

3.32 (5.29%)

CLLS

Cellectis

$18.35

0.6 (3.38%)

03/08/13
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  • 08

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ALKS

Alkermes

$31.58

-0.25 (-0.79%)

, ADI

Analog Devices

$87.50

-0.57 (-0.65%)

10:19
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Downgrade
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ALKS

Alkermes

$31.58

-0.25 (-0.79%)

ADI

Analog Devices

$87.50

-0.57 (-0.65%)

UAA

Under Armour

$18.63

-0.18 (-0.96%)

UA

Under Armour

$17.21

-0.18 (-1.04%)

MU

Micron

$33.30

-0.82 (-2.40%)

JPM

JPMorgan

$99.31

0.79 (0.80%)

03/08/13
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  • 07

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  • 31

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  • 26

    Feb

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    Mar

MDT

Medtronic

$92.20

0.18 (0.20%)

, MASI

Masimo

$106.37

1.08 (1.03%)

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MDT

Medtronic

$92.20

0.18 (0.20%)

MASI

Masimo

$106.37

1.08 (1.03%)

DRI

Darden

$103.74

-0.08 (-0.08%)

BBY

Best Buy

$52.56

0.57 (1.10%)

GE

General Electric

$7.78

0.505 (6.95%)

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  • 27

    Jan

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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10:15
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General news
U.S. existing home sales rose 1.9% to 5.320 M in November »

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Breaking General news story  »

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XLU

Utilities SPDR

$54.42

-0.21 (-0.38%)

10:10
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12/19
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10:10
Options
18.8K SPDR Utility Fund Dec 51 - 53 put spreads trade 12c »

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FND

Floor & Decor

$26.63

0.09 (0.34%)

10:06
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Recommendations
Floor & Decor analyst commentary  »

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BWA

BorgWarner

$35.14

0.73 (2.12%)

10:05
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SEED

Origin Agritech

$6.37

(0.00%)

10:03
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