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

Qorvo (NASDAQ:QRVO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research analysts also recently commented on QRVO. 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 report on Wednesday, January 28th. Susquehanna lowered their target price on Qorvo from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Morgan Stanley set a $84.00 target price on Qorvo in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.88.

Qorvo Trading Up 0.2%

QRVO 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 company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89. The company has a market capitalization 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 business has a 50 day simple moving average of $80.35 and a two-hundred day simple moving average of $84.23.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.24. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. During the same period in the prior year, the company posted $1.61 EPS. The firm’s revenue for the quarter 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 anticipate that Qorvo will post 4.09 EPS for the current fiscal year.

Institutional Trading of Qorvo

Several hedge funds and other institutional investors have recently bought and sold shares of QRVO. AQR Arbitrage LLC purchased a new stake in Qorvo during the 4th quarter valued at $118,204,000. Norges Bank purchased a new stake in Qorvo during the 4th quarter valued at $92,430,000. Marshall Wace LLP raised its holdings in Qorvo by 16,066.5% during the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after buying an additional 809,591 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Qorvo during the 3rd quarter valued at $66,594,000. Finally, Dorsal Capital Management LP raised its holdings in Qorvo by 146.9% during the 3rd quarter. Dorsal Capital Management LP now owns 1,000,000 shares of the semiconductor company’s stock valued at $91,080,000 after buying an additional 595,000 shares during the period. Hedge funds and other institutional investors 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.