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QRVO

Qorvo

$60.68

0.47 (0.78%)

09:13
05/24/19
05/24
09:13
05/24/19
09:13

Qorvo price target lowered to $67 on Huawei ban at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach removed sales to Huawei from his estimates for Qorvo following the U.S. ban on the Chinese company, though he said he thinks developments related to Huawei have already been discounted with the stock selling off 18% since the ban went into place last week. Though he lowered his revenue, non-GAAP gross margin and non-GAAP EPS estimates for FY20 and FY21 due to the Huawei ban and cut his price target on Qorvo shares to $67 from $73, Hettenbach said he expects lost demand to be recouped at other original equipment makers. A more concerning development would be if the Huawei ban blunts the rollout of 5G, added Hettenbach, who keeps an Equal Weight rating on Qorvo shares.

QRVO Qorvo
$60.68

0.47 (0.78%)

05/21/19
OPCO
05/21/19
NO CHANGE
OPCO
Perform
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.
05/22/19
JPMS
05/22/19
NO CHANGE
Target $85
JPMS
Overweight
JPMorgan still sees 'meaningful upside' for Qorvo shares over midterm
JPMorgan analyst Bill Peterson lowered his price target for Qorvo to $85 from $90 but keeps an Overweight rating on the shares after the company cut its outlook to reflect the U.S. Department of Commerce ban of shipping components to Huawei. Despite the negative impact of the Huawei ban, Peterson continues to expect Qorvo to outperform over the next few years on "content gains" in mobile. Despite volatility in the market and the potential for additional headline risk, Qorvo's risk/reward profile remains favorable over the midterm, Peterson tells investors in a research note. He continues to expect "meaningful upside" for the shares.
05/22/19
DADA
05/22/19
NO CHANGE
Target $66
DADA
Neutral
Qorvo price target lowered to $66 from $82 at DA Davidson
DA Davidson analyst Thomas Diffely lowered his price target on Qorvo to $66 and kept his Neutral rating while also lowering his FY20 and FY21 target EPS on the stock by $1 and $1.25 to $5.00 and $5.75 respectively. The analyst cites the company's announced stoppage of shipments to Huawei, which had accounted for about 15% of its overall revenue in FY19, in response to it being "blacklisted" by the Trump administration. Diffely adds that it is difficult to predict the duration of the ban, but believes that a conservative model of fully removing Huawei from his projections for Qorvo financials is warranted.
05/22/19
CHLM
05/22/19
NO CHANGE
Target $75
CHLM
Buy
Qorvo price target lowered to $75 from $85 at Craig-Hallum
Craig-Hallum analyst Anthony Stoss lowered his price target for Qorvo to $75 from $85 after the company lowered its June quarter guidance and provided September quarter guidance as well to account for the U.S. ban against Huawei. The analyst reiterates a Buy rating on the shares.

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$69.65

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DAL

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SPY

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ARZGY

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$0.00

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ZBRA

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DELL

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ORCL

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CB

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