Qorvo (NASDAQ:QRVO) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Qorvo (NASDAQ:QRVO) from a hold rating to a strong sell rating in a report released on Monday,Zacks.com reports.

QRVO has been the subject of several other reports. Cfra reissued a “hold” rating and set a $122.00 price objective on shares of Qorvo in a research note on Tuesday, October 28th. UBS Group decreased their price target on Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday. Weiss Ratings downgraded Qorvo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. Citigroup upgraded shares of Qorvo from a “sell” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $105.00 in a report on Tuesday, October 28th. Finally, Argus upgraded shares of Qorvo to a “hold” rating in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $100.07.

Qorvo Stock Up 1.4%

NASDAQ QRVO opened at $80.95 on Monday. The company has a quick ratio of 2.20, a current ratio of 2.95 and a debt-to-equity ratio of 0.44. Qorvo has a fifty-two week low of $49.46 and a fifty-two week high of $106.30. The business has a 50 day moving average price of $84.79 and a two-hundred day moving average price of $87.96. The stock has a market cap of $7.48 billion, a PE ratio of 35.04, a P/E/G ratio of 1.49 and a beta of 1.36.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.19. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The business had revenue of $1.06 billion during the quarter. During the same period in the previous year, the business posted $1.88 earnings per share. Qorvo’s revenue for the quarter was up 1.1% on a year-over-year basis. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. As a group, sell-side analysts predict that Qorvo will post 4.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Qorvo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp increased its stake in Qorvo by 440.1% during the first quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock valued at $589,000 after acquiring an additional 6,628 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Qorvo by 1.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company’s stock valued at $682,000 after buying an additional 118 shares during the period. GAMMA Investing LLC raised its stake in shares of Qorvo by 13.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,162 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 497 shares in the last quarter. Norden Group LLC bought a new position in shares of Qorvo during the 2nd quarter worth about $205,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Qorvo by 0.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company’s stock worth $2,630,000 after acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.