Qorvo (NASDAQ:QRVO) Price Target Cut to $90.00 by Analysts at Citigroup

Qorvo (NASDAQ:QRVO) had its price target lowered by research analysts at Citigroup from $105.00 to $90.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price target indicates a potential upside of 15.60% from the company’s current price.

A number of other equities analysts have also recently issued reports on QRVO. Cfra reiterated a “hold” rating and issued a $122.00 target price on shares of Qorvo in a report on Tuesday, October 28th. UBS Group lowered their price objective on shares of Qorvo from $108.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. TD Cowen reduced their price objective on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley set a $84.00 target price on shares of Qorvo in a research report on Wednesday. Finally, Piper Sandler lowered their target price on shares of Qorvo from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.56.

Qorvo Stock Down 6.0%

Shares of QRVO traded down $4.95 during trading hours on Wednesday, hitting $77.86. The stock had a trading volume of 2,985,498 shares, compared to its average volume of 1,283,476. Qorvo has a 1-year low of $49.46 and a 1-year high of $106.30. The firm has a market capitalization of $7.19 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36. The firm has a 50 day simple moving average of $84.67 and a 200-day simple moving average of $87.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.95 and a quick ratio of 2.20.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Monday, November 3rd. The semiconductor company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.19. Qorvo had a return on equity of 13.30% and a net margin of 5.95%.The business had revenue of $1.06 billion for the quarter. During the same period last year, the company posted $1.88 earnings per share. The firm’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. Sell-side analysts predict that Qorvo will post 4.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Qorvo during the 2nd quarter worth approximately $153,994,000. Marshall Wace LLP grew its holdings 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 purchasing an additional 809,591 shares during the period. LSV Asset Management increased its position in Qorvo by 118.0% in the second quarter. LSV Asset Management now owns 1,382,970 shares of the semiconductor company’s stock worth $117,428,000 after buying an additional 748,589 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Qorvo in the third quarter worth $66,594,000. Finally, Dorsal Capital Management LP raised its stake in shares of Qorvo by 146.9% in the third 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. Institutional investors own 88.57% of the company’s stock.

Key Headlines Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo beat expectations for the quarter — reported EPS of $2.17 vs. consensus ~ $1.93 and revenue of $993M (up 8.4% YoY), showing near-term profitability and demand resilience. MarketBeat Q3 Results
• Positive Sentiment: Some analysts remain constructive despite cuts — Piper Sandler kept an Overweight rating (PT lowered to $90) and Craig Hallum kept a Buy rating (PT lowered to $95), indicating continued upside in some analysts’ views. Piper Sandler / The Fly Craig Hallum / TickerReport
• Neutral Sentiment: Short interest rose sharply in January — a ~50.6% increase to ~3.37M shares (about 3.7% of float) with a short-interest ratio near 3.0 days; this raises potential for volatility and short-covering moves. (No direct article link provided)
• Negative Sentiment: Guidance was weaker than the street — Q4 EPS guide of $1.05–$1.35 (midpoint slightly below consensus) and revenue guidance of $775M–$825M vs. consensus ~$901.5M, driving the post-earnings selloff. Company Press Release Benzinga: Stock Tumbles
• Negative Sentiment: Multiple firms cut price targets and moved to more cautious ratings (examples: TD Cowen to $80 hold, Mizuho to $70 neutral, Stifel to $85 hold), suggesting analysts are lowering medium-term expectations for growth. TD Cowen / The Fly Benzinga roundup

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.