** Shares of chipmaker Qorvo up 3.1% to $86.84 early Tues after Morgan Stanley upgrades to 'overweight' from 'equal-weight' in wake of Starboard taking a big stake ** QRVO shares on Fri closed up >14% after the activist investor revealed 7.7% stake worth more than $500 mln, looking to boost the Apple supplier's weak share price

** Morgan Stanley boosts PT on QRVO from $90 to $106, implying ~26% upside to stock's last close

** QRVO has struggled to achieve margin targets, but activist involvement could '"inject some urgency" and unlock value, Morgan Stanley analyst Joseph Moore wrote in note

** Moore sees potential for a "renewed earnings recovery path," adding he believes QRVO can achieve $9.63 in EPS if strategy shifts from a "growth through diversification" mindset into one that optimizes around co's core radio frequency proficiency

** Of 28 analysts covering QRVO, recommendation breakdown is 4 "strong buy" or "buy", 21 "hold" and 3 "sell" or "strong sell", per LSEG data

** Median PT of $87.13 down from $120 on Oct 21

** With move on the session, shares up ~24% YTD. In 2024, stock shed 38% while Philadelphia Semiconductor index advanced 19%

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))