Qorvo (NASDAQ:QRVO) Upgraded at Mizuho

Mizuho upgraded shares of Qorvo (NASDAQ:QRVO) from an underperform rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has $93.00 price target on the semiconductor company’s stock, up from their previous price target of $75.00.

A number of other equities analysts also recently weighed in on the company. Cfra Research raised Qorvo to a “hold” rating in a research report on Tuesday, October 28th. Citigroup upgraded Qorvo from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $70.00 to $105.00 in a research note on Tuesday, October 28th. Barclays boosted their target price on Qorvo from $70.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised Qorvo from an “underweight” rating to a “neutral” rating and raised their price target for the company from $92.00 to $105.00 in a report on Tuesday, November 4th. Finally, TD Cowen lifted their price objective on shares of Qorvo from $80.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Three analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.00.

Qorvo Price Performance

Shares of QRVO opened at $86.20 on Tuesday. The company has a current ratio of 2.95, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $90.68 and its 200 day simple moving average is $85.57. Qorvo has a 1-year low of $49.46 and a 1-year high of $106.30. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 1.59 and a beta of 1.44.

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

Insiders Place Their Bets

In related news, SVP Paul J. Fego sold 13,612 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $1,293,140.00. Following the completion of the sale, the senior vice president directly owned 54,558 shares in the company, valued at $5,183,010. The trade was a 19.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Qorvo by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after acquiring an additional 100,058 shares in the last quarter. State Street Corp boosted its holdings in Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after purchasing an additional 175,031 shares during the period. Jericho Capital Asset Management L.P. acquired a new position in shares of Qorvo during the 1st quarter worth approximately $168,980,000. Contour Asset Management LLC acquired a new position in shares of Qorvo during the 1st quarter worth approximately $151,698,000. Finally, Norges Bank bought a new position in shares of Qorvo during the second quarter worth approximately $153,994,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.