Top 10 AI Stocks News: Latest Analyst Ratings And Upgrades

6. Qorvo Inc. (NASDAQ:QRVO)

Number of Hedge Fund Holders: 40

Qorvo Inc. (NASDAQ:QRVO) supplies cutting-edge semiconductor solutions, including active antenna systems, amplifiers, discrete transistors, filters, switches, power technologies, and frequency converters alongside the largest portfolio of Gallium Nitride/Gallium Arsenide foundry processes to mobile, infrastructure, the IoT, and defense/aerospace markets. Qorvo Inc. (NASDAQ:QRVO) has partnered with AI firms to enhance product functionality. For instance, the company collaborates with Bondzai to leverage the latter’s DavinSy deep learning system and AI-powered signal processing techniques to offer complete AI+DSP solutions for ultra-wideband products.

On January 27th, Piper Sandler upgraded Qorvo Inc.’s (NASDAQ:QRVO) rating to “Overweight” from “Neutral” with a stock price target of $110, up from $85, citing the company’s potential for improving fundamentals and activist investor Starboard’s stake acquisition in the company. The brokerage noted that Qorvo Inc.’s (NASDAQ:QRVO) current setup is “ripe for this activist to come in and derive operational and capital efficiencies.” Analysts predicted between $250 million and $300 million in operating efficiencies for the company if it were run with a similar operation expense structure as its closest rival, Skyworks Solutions Inc. (NASDAQ:SWKS).