Piper Sandler upgraded Qorvo (QRVO) to Overweight from Neutral with a price target of $110, up from $85. The firm cites the company’s potential for improving fundamentals given Starboard’s involvement for the upgrade. Qorvo’s current setup is “ripe for this activist to come in and derive operational and capital efficiencies,” the analyst tells investors in a research note. Piper feels that there could be between $250M-$300M in operating efficiencies if Qorvo were run with a similar operation expense structure as its closest comp, Skyworks (SWKS).
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio