Analysts Offer Insights on Technology Companies: Qorvo (NASDAQ: QRVO) and Applied Optoelectronics (NASDAQ: AAOI)

By Ryan Adsit

Analysts have been eager to weigh in on the Technology sector with new ratings on Qorvo (QRVOResearch Report) and Applied Optoelectronics (AAOIResearch Report).

Qorvo (QRVO)

Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Qorvo yesterday and set a price target of $114.00. The company’s shares closed last Thursday at $100.82.

According to TipRanks.com, Rakesh is a 5-star analyst with an average return of 15.1% and a 57.6% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.

Currently, the analyst consensus on Qorvo is a Moderate Buy with an average price target of $112.77, implying an 11.5% upside from current levels. In a report issued on May 5, Needham also assigned a Buy rating to the stock with a $150.00 price target.

See today’s analyst top recommended stocks >>

Applied Optoelectronics (AAOI)

Rosenblatt Securities analyst Ryan Koontz downgraded Applied Optoelectronics to Hold yesterday and set a price target of $10.00. The company’s shares closed last Thursday at $12.20.

According to TipRanks.com, Koontz is a 5-star analyst with an average return of 20.0% and a 67.7% success rate. Koontz covers the Technology sector, focusing on stocks such as Zoom Video Communications, Acacia Communications, and CommScope Holding.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Optoelectronics with a $10.05 average price target.

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