Qorvo (NASDAQ:QRVO) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Qorvo (NASDAQ:QRVO) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Argus upgraded shares of Qorvo to a “hold” rating in a report on Wednesday, November 5th. Cfra reiterated a “hold” rating and issued a $122.00 price target on shares of Qorvo in a research report on Tuesday, October 28th. Piper Sandler reissued a “neutral” rating on shares of Qorvo in a research report on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $84.00 price objective on Qorvo in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company. According to data from MarketBeat, Qorvo presently has an average rating of “Hold” and an average price target of $93.56.

Qorvo Trading Down 0.4%

NASDAQ QRVO opened at $83.92 on Tuesday. The firm’s 50-day moving average is $83.38 and its two-hundred day moving average is $87.25. Qorvo has a 12 month low of $49.46 and a 12 month 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 stock has a market capitalization of $7.78 billion, a P/E ratio of 23.05, a PEG ratio of 1.46 and a beta of 1.37.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.24. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The firm had revenue of $993.00 million for the quarter, compared to analyst estimates of $984.10 million. During the same period in the prior year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, sell-side analysts anticipate that Qorvo will post 4.09 earnings per share for the current year.

Institutional Investors Weigh In On Qorvo

A number of large investors have recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Qorvo in the second quarter valued at $25,000. Nisa Investment Advisors LLC acquired a new position in Qorvo in the 3rd quarter valued at about $25,000. Winnow Wealth LLC purchased a new position in Qorvo in the 3rd quarter valued at about $27,000. Stance Capital LLC acquired a new stake in shares of Qorvo during the 3rd quarter worth about $27,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds 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.