Qorvo (NASDAQ:QRVO) Cut to Hold at Zacks Research

Zacks Research cut shares of Qorvo (NASDAQ:QRVO) from a strong-buy rating to a hold rating in a research note released on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their target price on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. Morgan Stanley set a $84.00 target price on shares of Qorvo in a report on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. UBS Group lowered their target price on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Finally, Susquehanna lowered their target price on shares of Qorvo from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and an average target price of $93.88.

Qorvo Price Performance

Qorvo stock opened at $81.90 on Thursday. Qorvo has a 1 year low of $56.00 and a 1 year high of $106.30. The firm has a 50 day moving average price of $80.35 and a 200 day moving average price of $84.18. The company has a market cap of $7.59 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.89 and a current ratio of 3.67.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (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 firm had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. During the same period in the previous year, the firm earned $1.61 earnings per share. Qorvo’s 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. Sell-side analysts predict that Qorvo will post 4.09 earnings per share for the current year.

Institutional Investors Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in Qorvo by 198.1% during the first quarter. SG Americas Securities LLC now owns 698,958 shares of the semiconductor company’s stock worth $54,099,000 after buying an additional 464,494 shares during the period. Corient Private Wealth LLC grew its stake in Qorvo by 102.0% during the fourth quarter. Corient Private Wealth LLC now owns 20,990 shares of the semiconductor company’s stock worth $1,777,000 after buying an additional 10,601 shares during the period. Wick Capital Partners LLC purchased a new stake in Qorvo during the fourth quarter worth approximately $12,384,000. Kera Capital Partners Inc. grew its stake in Qorvo by 42.3% during the fourth quarter. Kera Capital Partners Inc. now owns 4,755 shares of the semiconductor company’s stock worth $371,000 after buying an additional 1,414 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Qorvo during the fourth quarter worth approximately $1,595,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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.