Qorvo (NASDAQ:QRVO) Upgraded at Zacks Research

Zacks Research upgraded shares of Qorvo (NASDAQ:QRVO) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

QRVO has been the subject of a number of other reports. Argus raised Qorvo to a “hold” rating in a report on Wednesday, November 5th. TD Cowen decreased their target price on Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Mizuho dropped their target price on shares of Qorvo from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Citigroup lowered their price target on shares of Qorvo from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, January 28th. Finally, Stifel Nicolaus lowered their target price on Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.56.

Qorvo Trading Down 3.3%

NASDAQ:QRVO opened at $81.31 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.89 and a current ratio of 3.67. The company has a market capitalization of $7.54 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.46 and a beta of 1.37. The stock’s 50 day moving average price is $83.21 and its 200 day moving average price is $87.21. Qorvo has a 52 week low of $49.46 and a 52 week high of $106.30.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The company had revenue of $993.00 million for the quarter, compared to analyst estimates of $984.10 million. During the same quarter last year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, research analysts forecast that Qorvo will post 4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Qorvo

A number of large investors have recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Qorvo during the second quarter worth $25,000. Nisa Investment Advisors LLC acquired a new stake in shares of Qorvo in the third quarter valued at about $25,000. Winnow Wealth LLC bought a new stake in Qorvo during the third quarter worth about $27,000. Stance Capital LLC acquired a new position in Qorvo during the third quarter valued at approximately $27,000. Finally, Smartleaf Asset Management LLC boosted its position in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Company Profile

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.