This newly-formed company from two stalwarts surpassed analysts’ revenue estimates and was just upgraded to “outperform” by Northland Capital.
Qorvo (QRVO)
from Nate’s Notes
As anticipated, the merger between TriQuint and RF Micro Devices was completed at the end of 2014, and the new company, Qorvo, has begun trading under the ticker symbol QRVO. To recap the deal, TriQuint shareholders received 1.65 shares of QRVO for each TQNT shares they held, and once the merger was complete, the company then did a 1-for-4 reverse stock split.
The odds greatly favor this stock continuing to trend with the rest of the semis, so at least we have a framework against which to evaluate price action. QRVO is now a strong buy under $65 and a buy under $72.
Nate Pile, Nate’s Notes, www.NotWallStreet.com, 707-433-7903, January 9, 2015