Qorvo price target lowered to $60 from $80 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on Qorvo (QRVO) to $60 from $80 and keeps an Equal Weight rating on the shares. The firm updated semiconductor and semiconductor capital equipment models to reflect tariffs and the trade war ahead of Q1 earnings. The analyst reduced target multiples on China and consumer risk.