Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $93.88

Qorvo, Inc. (NASDAQ:QRVO) has been assigned a consensus rating of “Hold” from the twenty research firms that are presently covering the company, Marketbeat.com reports. Seventeen research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $93.8750.

Several analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Barclays boosted their price objective on shares of Qorvo from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Citigroup reduced their price objective on shares of Qorvo from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, January 28th. Piper Sandler restated a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. Finally, Mizuho reduced their price objective on shares of Qorvo from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, January 28th.

Qorvo Trading Down 0.0%

NASDAQ QRVO opened at $79.81 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. Qorvo has a 52 week low of $52.62 and a 52 week high of $106.30. The stock has a market capitalization of $7.40 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. The firm has a 50 day moving average of $80.37 and a two-hundred day moving average of $84.57.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 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 company had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $984.10 million. During the same quarter in the previous year, the business posted $1.61 EPS. The firm’s 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, research analysts expect that Qorvo will post 4.09 EPS for the current fiscal year.

Institutional Trading of Qorvo

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