Qorvo Target of Unusually Large Options Trading (NASDAQ:QRVO)

Qorvo, Inc. (NASDAQ:QRVO) was the recipient of some unusual options trading on Wednesday. Stock investors bought 4,121 call options on the stock. This represents an increase of approximately 542% compared to the average daily volume of 642 call options.

Institutional Investors Weigh In On Qorvo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QRVO. Norges Bank acquired a new position in shares of Qorvo in the 2nd quarter valued at about $153,994,000. Marshall Wace LLP raised its position in Qorvo by 16,066.5% during the third quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after acquiring an additional 809,591 shares in the last quarter. LSV Asset Management raised its position in Qorvo by 118.0% during the second quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock valued at $117,428,000 after acquiring an additional 748,589 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Qorvo in the third quarter valued at approximately $66,594,000. Finally, Dorsal Capital Management LP boosted 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 worth $91,080,000 after purchasing an additional 595,000 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Piper Sandler lowered Qorvo from an “overweight” rating to a “hold” rating and set a $110.00 target price on the stock. in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Qorvo from a “hold” rating to a “strong sell” rating in a report on Monday. Morgan Stanley set a $110.00 target price on shares of Qorvo and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised shares of Qorvo from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $92.00 to $105.00 in a research report on Tuesday, November 4th. Finally, Mizuho set a $85.00 price target on shares of Qorvo in a research note on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.07.

Qorvo Stock Performance

Shares of Qorvo stock traded up $1.12 on Wednesday, reaching $80.97. 103,207 shares of the stock were exchanged, compared to its average volume of 1,020,450. The business has a 50 day moving average price of $84.93 and a two-hundred day moving average price of $88.01. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 1.50 and a beta of 1.36. Qorvo has a twelve month low of $49.46 and a twelve month high of $106.30. The company has a quick ratio of 2.20, a current ratio of 2.95 and a debt-to-equity ratio of 0.44.

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

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.