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QRVO

Qorvo

$63.68

-0.12 (-0.19%)

08:48
11/14/18
11/14
08:48
11/14/18
08:48

Qorvo price target lowered to $65 from $75 at BMO Capital

BMO Capital analyst Ambrish Srivastava lowered his price target on Qorvo to $65 after its reduced Q3 earnings view coming less than 2 weeks after its reported earnings. The analyst notes that the management had "sounded fairly bullish" on its earnings call, so "things must have changed in a hurry" in relation to its flagship smartphone demand. Srivastava also lowers his FY19 EPS view to $5.88 from $6.32 and FY20 EPS view to $6.53 from $7.36 while keeping his Market Perform rating on Qorvo.

QRVO Qorvo
$63.68

-0.12 (-0.19%)

11/14/18
UBSW
11/14/18
NO CHANGE
Target $225
UBSW
Neutral
UBS drops Apple price target to $225 from $240 on supply chain cuts
UBS analyst Timothy Arcuri lowered his estimates for Apple citing cuts in the company's supply chain. The analyst believes Apple in the past week has cut 6M-7M out of the original 63M build for new iPhone models, with the cut evenly split between the XS Max and XR models. On a net basis, however, this cut is slightly offset by a few million more older phones, Arcuri tells investors in a research note. The analyst's overall calendar Q4 estimate for iPhone units for sell-in go from 75M to 73.5M along with a slight reduction in average selling price. He also dropped his calendar Q1 unit estimate to 46.7M from 53.3M and Q2 estimate to 37.5M from 41.7M. The analyst notes that these cuts are "significantly" less than Lumentum's (LITE) negative preannouncement would imply and still a little less than the 10M implied by Qorvo (QRVO). Nonetheless, Arcuri thinks there is an "inventory component that is still negatively affecting the supply chain." The analyst dropped his price target for Apple to $225 from $240 while keeping a Buy rating on the shares. The iPhone maker closed yesterday down $1.94 to $192.23.
11/14/18
UBSW
11/14/18
NO CHANGE
Target $53
UBSW
Buy
Lumentum price target lowered to $53 from $80 at UBS
UBS analyst Tejas Venkatesh lowered his price target on Lumentum (LITE) to $53 from $80 after the change in Qorvo (QRVO) guidance, which gave more evidence of Apple (AAPL) demand weakness being the underlying cause of Lumentum's change in expectations. The analyst lowered his estimates but said he does not see further inventory risk unless demand weakens further. Venkatesh maintained his Buy rating on Lumentum shares.
11/14/18
ADAM
11/14/18
NO CHANGE
Target $83
ADAM
Buy
Qorvo price target lowered to $83 from $90 at Canaccord
Canaccord analyst T. Michael Walkley lowered his price target on Qorvo (QRVO) to $83 from $90 after the company lowered its guidance, as several Apple (AAPL) suppliers have done. He expects Qorvo to continue focusing on developing integrated solutions to drive dollar content growth faster than the slow growing smartphone market and anticipates improving growth trends as 5G ramps long-term. Walkley reiterated his Buy rating on Qorvo shares.
11/14/18
NOMU
11/14/18
NO CHANGE
Target $70
NOMU
Neutral
Qorvo price target lowered to $70 from $80 at Nomura Instinet
Nomura Instinet analyst Krysten Sciacca lowered her price target for Qorvo to $70 after the company yesterday morning reduced its Q3 guidance. The analyst keeps a Neutral rating on the shares.

TODAY'S FREE FLY STORIES

ALL

Allstate

$107.94

1.56 (1.47%)

08:01
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CPRI

Capri Holdings

$31.68

-0.58 (-1.80%)

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NCR

NCR Corp.

$32.85

-0.26 (-0.79%)

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ALNA

Allena Pharmaceuticals

$4.20

-0.035 (-0.83%)

07:55
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Conference/Events
Allena Pharmaceuticals to hold a KOL breakfast meeting »

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AAPL

Apple

$220.77

0.89 (0.40%)

07:52
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Apple analyst commentary  »

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AVP

Avon Products

$4.79

0.09 (1.91%)

07:52
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Avon Products announces launch of new skincare and make-up brand 'Distillery' »

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TSM

TSMC

$45.15

0.55 (1.23%)

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AMD

$31.00

0.17 (0.55%)

07:51
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07:51
Periodicals
TSMC extends production lead time for 7nm chip capacity, DIgiTimes reports »

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TSM

TSMC

$45.15

0.55 (1.23%)

AMD

AMD

$31.00

0.17 (0.55%)

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CBRL

Cracker Barrel

$167.79

2.84 (1.72%)

07:50
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07:50
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General news
U.S. MBA reported mortgage applications dipped -0.1% in the September 13 week »

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AKTS

Akoustis

$7.90

0.1 (1.28%)

07:48
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07:48
Downgrade
Akoustis rating change  »

Northland downgrades…

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ACHV

Achieve Life Sciences

$2.23

-0.03 (-1.33%)

07:46
09/18/19
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07:46
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07:46
Conference/Events
Achieve Life Sciences to host investor day »

Investor day to be held…

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CBWTF

Auxly Cannabis

$0.00

(0.00%)

07:45
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07:45
Hot Stocks
Auxly Cannabis announces Canadian brokerage agreement with Kindred Partners »

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IOTS

Adesto Technologies

$10.63

-0.66 (-5.85%)

07:45
09/18/19
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07:45
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07:45
Initiation
Adesto Technologies initiated  »

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ONCE

Spark Therapeutics

$104.41

-0.41 (-0.39%)

07:43
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Spark Therapeutics, paralympic skier partner for genetic testing awareness »

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KLAC

KLA-Tencor

$152.55

1.38 (0.91%)

07:42
09/18/19
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07:42
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KLA-Tencor analyst commentary  »

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VTVT

vTv Therapeutics

$1.73

-0.045 (-2.54%)

07:40
09/18/19
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Hot Stocks
vTv Therapeutics presents additional data from Phase 2 Simplici-T1 study »

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  • 08

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07:40
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General news
Treasury Market Outlook: yields extended declines overnight »

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GSK

GlaxoSmithKline

$41.10

0.49 (1.21%)

07:38
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Conference/Events
FDA Non-Prescription Drugs Advisory Committee to hold a meeting »

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OPGN

OpGen

$7.02

-0.07 (-0.99%)

07:37
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OpGen says Curetis collaborator obtains option to license ARESdb »

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BLK

BlackRock

$438.98

3.12 (0.72%)

, TROW

T. Rowe Price

$117.98

1.1 (0.94%)

07:37
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Recommendations
BlackRock, T. Rowe Price analyst commentary  »

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BlackRock

$438.98

3.12 (0.72%)

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T. Rowe Price

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AXDX

Accelerate Diagnostics

$21.30

1.85 (9.51%)

07:36
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Accelerate Diagnostics reports 'positive' results in three Pheno system studies »

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ADBE

Adobe

$284.59

1.54 (0.54%)

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WWE

$75.88

1.73 (2.33%)

07:35
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Options
Unusual call flow in option market yesterday »

Notable call activity was…

ADBE

Adobe

$284.59

1.54 (0.54%)

WWE

WWE

$75.88

1.73 (2.33%)

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BIIB

Biogen

$238.65

2.54 (1.08%)

07:34
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Biogen to present new data from SHINE study on safety and efficacy of SPINRAZA »

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IAC

IAC

$236.73

7.5 (3.27%)

, MTCH

Match Group

$79.70

3 (3.91%)

07:33
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Recommendations
IAC, Match Group, Angi Homeservices analyst commentary  »

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IAC

IAC

$236.73

7.5 (3.27%)

MTCH

Match Group

$79.70

3 (3.91%)

ANGI

Angi Homeservices

$7.60

-0.31 (-3.92%)

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EFX

Equifax

$141.79

1.78 (1.27%)

07:32
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Equifax partners with Urjanet for utility payment data sharing platform »

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