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QRVO

Qorvo

$62.14

0.84 (1.37%)

14:22
05/21/19
05/21
14:22
05/21/19
14:22

Qorvo could be first to remove Huawei from estimates, says Oppenheimer

Oppenheimer analyst Rick Schafer notes that Qorvo lowered its Q1 outlook to reflect the recent U.S. Department of Commerce Huawei sales ban, which he believes comes as "little surprise" given the company's outsized Huawei exposure. Further, the analyst believes Qorvo could be the first of several semiconductor names to remove Huawei from estimates/de-risk. Schafer expects Huawei business likely comes back at some point, but "timing is uncertain." Given the challenged handset environment, he reiterates a Perform rating on the shares.

QRVO Qorvo
$62.14

0.84 (1.37%)

05/08/19
DADA
05/08/19
NO CHANGE
Target $82
DADA
Neutral
Qorvo price target raised to $82 from $70 at DA Davidson
DA Davidson analyst Thomas Diffely raised his price target on Qorvo to $82 after its Q4 earnings beat, above-consensus outlook for Q1, and expectations of an even better FY20. The analyst cites the company's "key design wins" and increased content among the top smartphone manufacturers that should allow it to generate flat Mobile segment revenue in FY20. The analyst also raises his FY20 EPS outlook by 30c to $6.00 to reflect the "incremental design wins" and the 5G opportunity.
05/08/19
05/08/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Mosaic (MOS) upgraded to Overweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas stating that following the stock's underperformance on a one, three, five, and ten year period, Mosaic shares now offer a favorable risk/reward balance. 2. Qorvo (QRVO) upgraded to Buy from hold at Canaccord with analyst T. Michael Walkley saying he expects Qorvo to remain focused on developing integrated solutions to drive dollar content growth to grow faster than the slow growing smartphone market and anticipates improving growth trends as 5G ramps in F2021. 3. LendingClub (LC) upgraded to Outperform from Neutral at Wedbush with analyst Henry Coffey sayinh the company now operates with a more complex, more diversified source of loan buying/funding, a tighter focus around its primary credit niche, and a focus on operating efficiency that has it within eyesight of generating an adjusted EBITDA margin of 20% by the end of 2019. 4. US Foods (USFD) upgraded to Buy from Neutral at Buckingham with analyst Bob Summers continuing to have a "very favorable" sector view as he believes that food away from home trends will continue and the industry fragmentation favors large, well-capitalized operators. 5. Office Properties (OPI) upgraded to Hold from Underperform at Jefferies with analyst Jonathan Petersen noting the market now well understands the earnings dilution from the FPO acquisition. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/19
MSCO
05/16/19
NO CHANGE
MSCO
Micron, Skyworks, Qorvo among chipmakers exposed to Huawei, says Morgan Stanley
Following media reports discussing a potential ban of sales from U.S. companies to Huawei, Morgan Stanley analyst Joseph Moore identified semiconductor companies with exposure to the company, including Skyworks (SWKS), Qorvo (QRVO), Broadcom (AVGO), Analog Devices (ADI), ON Semiconductor (ON), Maxim (MXIM), Texas Instruments (TXN), Xilinx (XLNX), Micron (MU) and Inphi (IPHI). In his note, Moore recalled that a similar ban on ZTE (ZTCOY) last year was ultimately removed.
05/21/19
ADAM
05/21/19
NO CHANGE
Target $76
ADAM
Buy
Qorvo price target lowered to $76 from $87 at Canaccord
Canaccord analyst T. Michael Walkley lowered his price target for Qorvo to $76 from $87 but maintained a Buy rating after the Commerce Department added Huawei and its affiliates to its "Entity List" prohibiting U.S.-origin technology to be supplied to Huawei without a license. Huawei accounted for 13% and 8% of Qorvo's fiscal 2019 and fiscal 18 revenue, respectively, Walkley tells investors in a research note, adding that he believes Qorvo's recent stronger-than-anticipated June quarter guidance included strong share gains in Huawei handsets combined with ongoing improving shipments to Huawei for 5G infrastructure. Despite the uncertainty from the shipment ban to 10% plus customer and potential impact to the timing for the market's 5G uptake given Huawei's leadership position in infrastructure markets, the analyst says he believes the shares have priced in the news and feels Qorvo will remain focused on developing integrated solutions to drive dollar content growth to grow faster than the slow growing smartphone market and anticipate improving growth trends as 5G ramps in fiscal 2021.

TODAY'S FREE FLY STORIES

ERJ

Embraer

$19.15

-0.06 (-0.31%)

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FRPT

Freshpet

$48.30

0.65 (1.36%)

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ATVI

Activision Blizzard

$45.06

-0.55 (-1.21%)

, CNX

CNX Resources

$7.26

0.15 (2.11%)

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$45.06

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$7.26

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STNG

Scorpio Tankers

$25.35

-0.075 (-0.30%)

ERF

Enerplus

$7.00

0.44 (6.71%)

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  • 19

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TAST

Carrols Restaurant

$8.44

-0.07 (-0.82%)

07:28
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Carrols Restaurant management to meet with Stephens »

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  • 19

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    Nov

TBIO

Translate Bio

$10.08

0.06 (0.60%)

, SNY

Sanofi

$42.65

0.19 (0.45%)

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Translate Bio, Sanofi initiated  »

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TBIO

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$10.08

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SNY

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0.19 (0.45%)

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  • 18

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DCPH

Deciphera

$23.07

1.56 (7.25%)

07:25
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Conference/Events
Deciphera to host conference call »

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  • 18

    Jun

VTR

Ventas

$68.61

1.83 (2.74%)

07:25
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Conference/Events
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  • 18

    Jun

MIXT

MiX Telematics

$15.56

0.11 (0.71%)

07:24
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Conference/Events
MiX Telematics management to meet with William Blair »

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  • 19

    Jun

BA

Boeing

$354.90

7.71 (2.22%)

, AL

Air Lease

$38.66

-0.185 (-0.48%)

07:23
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Boeing, Air Lease announce commitment for five 787-9 Dreamliners »

Boeing (BA) and Air Lease…

BA

Boeing

$354.90

7.71 (2.22%)

AL

Air Lease

$38.66

-0.185 (-0.48%)

03/08/13
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  • 09

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    Nov

REGN

Regeneron

$311.03

5.84 (1.91%)

07:23
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07:23
Downgrade
Regeneron rating change  »

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  • 26

    Jun

SNAP

Snap

$13.56

-0.4 (-2.87%)

07:22
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Snap analyst commentary  »

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  • 10

    Jul

DY

Dycom

$54.55

0.465 (0.86%)

07:22
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06/18
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Conference/Events
Dycom management to meet with Stephens »

Group Luncheon Meeting…

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  • 18

    Jun

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    Jun

SRI

Stoneridge

$29.39

0.16 (0.55%)

07:20
06/18/19
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07:20
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Conference/Events
Stoneridge management to meet with Stephens »

Group Luncheon Meeting…

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  • 19

    Jun

  • 13

    Nov

SIRI

Sirius XM

$5.62

0.06 (1.08%)

07:19
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07:19
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07:19
Conference/Events
Sirius XM management to meet with Stephens »

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  • 19

    Jun

GTBIF

Green Thumb Industries

$0.00

(0.00%)

07:18
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  • 25

    Jul

BGNE

BeiGene

$113.91

-3.57 (-3.04%)

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  • 20

    Jun

DISH

Dish

$39.00

1.46 (3.89%)

, S

Sprint

$7.10

0.09 (1.28%)

07:16
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Recommendations
Dish, Sprint, T-Mobile analyst commentary  »

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DISH

Dish

$39.00

1.46 (3.89%)

S

Sprint

$7.10

0.09 (1.28%)

TMUS

T-Mobile

$75.23

0.33 (0.44%)

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USM

U.S. Cellular

$44.15

0.375 (0.86%)

, TDS

Telephone and Data

$29.21

-0.11 (-0.38%)

07:16
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07:16
Upgrade
U.S. Cellular, Telephone and Data rating change  »

U.S. Cellular, Telephone…

USM

U.S. Cellular

$44.15

0.375 (0.86%)

TDS

Telephone and Data

$29.21

-0.11 (-0.38%)

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WSFS

WSFS Financial

$41.04

-0.29 (-0.70%)

07:16
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07:16
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Conference/Events
WSFS Financial management to meet with Stephens »

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  • 19

    Jun

TWLO

Twilio

$140.75

0.58 (0.41%)

, UBER

Uber

$43.75

0.53 (1.23%)

07:14
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Initiation
Twilio, Uber initiated  »

Twilio initiated with a…

TWLO

Twilio

$140.75

0.58 (0.41%)

UBER

Uber

$43.75

0.53 (1.23%)

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  • 18

    Jun

  • 19

    Jun

SMMT

Summit Therapeutics

$1.20

-0.035 (-2.83%)

07:14
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RNG

RingCentral

$116.89

-1.16 (-0.98%)

07:13
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Initiation
RingCentral initiated  »

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  • 13

    Nov

MITO

Stealth Biotherapeutics

$13.40

(0.00%)

07:11
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Initiation
Stealth Biotherapeutics initiated  »

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APO

Apollo Global

$33.25

-0.06 (-0.18%)

, SFS

Smart & Final Stores

$6.49

(0.00%)

07:11
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First Street Merger Sub completes tender offer for Smart & Final Stores »

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APO

Apollo Global

$33.25

-0.06 (-0.18%)

SFS

Smart & Final Stores

$6.49

(0.00%)

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WHF

WhiteHorse Finance

$14.03

0.02 (0.14%)

07:11
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Initiation
WhiteHorse Finance initiated  »

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