Morgan Stanley analyst Joseph Moore maintains $Qorvo (QRVO.US)$ with a hold rating, and adjusts the target price from $120 to $90.
According to TipRanks data, the analyst has a success rate of 55.6% and a total average return of 12.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Qorvo (QRVO.US)$'s main analysts recently are as follows:
The analyst notes a reduction in the projected pro-forma EPS for the years 2025 and 2026 for Qorvo, attributing this to company-specific challenges in executing within its principal mobile-focused ACG segment, which is operating within a broader tough market environment.
Following the earnings report, it is observed that Qorvo's halved Android business and challenges in the Apple unit have led to a significant decrease in projections, which may serve as a leading indicator for the mobile sector.
The firm noted that a reevaluation of the December quarter outlook is warranted due to changes in product mix within flagship/premium designs and a concerning decrease in the mid-tier Android markets. This observation has resulted in a reduction of the estimated earnings per share for fiscal years 2025 and 2026 by 25% each.
Note:
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