Qorvo (NASDAQ:QRVO) Trading Down 7.7% – Here’s Why

Qorvo, Inc. (NASDAQ:QRVO)’s stock price fell 7.7% during trading on Wednesday . The stock traded as low as $81.45 and last traded at $81.2910. 578,614 shares traded hands during trading, a decline of 21% from the average session volume of 734,580 shares. The stock had previously closed at $88.12.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QRVO. UBS Group lifted their target price on shares of Qorvo from $100.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Cfra reaffirmed a “hold” rating and set a $122.00 target price on shares of Qorvo in a research note on Tuesday, October 28th. Citigroup upgraded shares of Qorvo from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $70.00 to $105.00 in a research note on Tuesday, October 28th. Cfra Research upgraded shares of Qorvo to a “hold” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley set a $110.00 price objective on Qorvo and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.00.

Qorvo Price Performance

The company has a market cap of $7.66 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 1.48 and a beta of 1.36. The stock has a fifty day simple moving average of $86.27 and a two-hundred day simple moving average of $88.14. The company has a current ratio of 2.95, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44.

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

Hedge Funds Weigh In On Qorvo

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in Qorvo during the 3rd quarter worth about $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Qorvo during the 2nd quarter worth about $25,000. Winnow Wealth LLC purchased a new stake in shares of Qorvo during the third quarter worth about $27,000. Stance Capital LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $27,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Qorvo in the third quarter valued at approximately $34,000. 88.57% of the stock is owned by institutional investors and hedge funds.

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.