Short Interest in Qorvo, Inc. (NASDAQ:QRVO) Rises By 34.3%

Qorvo, Inc. (NASDAQ:QRVO) saw a large growth in short interest in January. As of January 30th, there was short interest totaling 4,528,047 shares, a growth of 34.3% from the January 15th total of 3,372,416 shares. Based on an average daily volume of 1,799,231 shares, the days-to-cover ratio is presently 2.5 days. Currently, 4.9% of the shares of the company are sold short. Currently, 4.9% of the shares of the company are sold short. Based on an average daily volume of 1,799,231 shares, the days-to-cover ratio is presently 2.5 days.

Hedge Funds Weigh In On Qorvo

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in shares of Qorvo in the third quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC bought a new stake in Qorvo in the 2nd quarter valued at approximately $25,000. Winnow Wealth LLC bought a new stake in Qorvo in the 3rd quarter valued at approximately $27,000. Stance Capital LLC bought a new stake in Qorvo in the 3rd quarter valued at approximately $27,000. Finally, Smartleaf Asset Management LLC boosted its position in Qorvo by 215.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on QRVO shares. Mizuho lowered their target price on Qorvo from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Stifel Nicolaus dropped their target price on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. JPMorgan Chase & Co. upgraded shares of Qorvo from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $92.00 to $105.00 in a research report on Tuesday, November 4th. UBS Group dropped their target price on Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Finally, TD Cowen decreased their price target on Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and an average price target of $93.56.

Qorvo Trading Up 1.9%

QRVO stock traded up $1.54 during midday trading on Monday, hitting $84.44. 1,045,640 shares of the company’s stock were exchanged, compared to its average volume of 1,604,668. Qorvo has a one year low of $49.46 and a one year high of $106.30. 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 cap of $7.83 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.37. The stock’s fifty day moving average price is $83.68 and its 200-day moving average price is $87.27.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.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. 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. Research analysts predict that Qorvo will post 4.09 earnings per share for the current fiscal year.

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.