Qorvo (NASDAQ:QRVO) Upgraded at Zacks Research

Zacks Research upgraded shares of Qorvo (NASDAQ:QRVO) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently issued reports on QRVO. Morgan Stanley set a $84.00 price objective on Qorvo in a research report on Wednesday, January 28th. Weiss Ratings raised Qorvo from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, January 29th. Citigroup decreased their price target on shares of Qorvo from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Barclays increased their price objective on shares of Qorvo from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Craig Hallum decreased their target price on shares of Qorvo from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $93.88.

Qorvo Stock Up 0.5%

Qorvo stock opened at $78.16 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. Qorvo has a fifty-two week low of $49.46 and a fifty-two week high of $106.30. The firm has a fifty day moving average price of $80.85 and a two-hundred day moving average price of $85.83. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.35 and a beta of 1.35.

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

Institutional Investors Weigh In On Qorvo

A number of institutional investors have recently modified their holdings of the business. Sage Rhino Capital LLC raised its position in shares of Qorvo by 4.4% in the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 160 shares in the last quarter. Fred Alger Management LLC increased its stake in Qorvo by 5.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock worth $290,000 after acquiring an additional 160 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in Qorvo by 5.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 161 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Qorvo by 4.5% during the 3rd quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company’s stock valued at $377,000 after acquiring an additional 177 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Qorvo by 60.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares in the last quarter. Institutional investors 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.