Oppenheimer Downgrades Qorvo to Perform on Limited Near-Term Opportunities
<p><a href='https://financialmodelingprep.com/financial-summary/QRVO'>Qorvo, Inc. (NASDAQ:QRVO) </a>was downgraded at Oppenheimer to Perform from Outperform given the lack of obvious growth/upside near-term catalysts. </p>
<p>The analysts mentioned that their upgrade on the company in July 2020 was mainly driven by the 5G RAN content/share gains expectations, however, 5G upside has been slow to materialize. </p>
<p>The analysts believe that Handset (the company is now 80% exposed to handset/mobile) is a large market with 1.6 billion units/year, but it is largely an ex-growth mature market with component suppliers dependent on sustained content gains for growth. </p>
<p>The analysts see limited content gains for the company this year, with content opportunities limited at Apple and increased competition from QUALCOMM Incorporated in China Android.</p>

NASDAQ:QRVO