Qorvo, Inc. (NASDAQ:QRVO) Receives $93.56 Consensus PT from Brokerages

Qorvo, Inc. (NASDAQ:QRVO) has been given a consensus recommendation of “Hold” by the twenty brokerages that are covering the firm, MarketBeat Ratings reports. Eighteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $93.5625.

A number of research analysts recently commented on the company. TD Cowen reduced their price target on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, January 28th. KeyCorp reiterated a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Mizuho decreased their price target 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. UBS Group cut their price target 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. Finally, Cfra reiterated a “hold” rating and set a $122.00 price objective on shares of Qorvo in a research note on Tuesday, October 28th.

Qorvo Price Performance

QRVO opened at $82.24 on Monday. Qorvo has a twelve month low of $49.46 and a twelve month high of $106.30. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.43 and a beta of 1.37. The company has a current ratio of 3.67, a quick ratio of 2.89 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $83.10 and a 200 day simple moving average of $87.23.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.24. The company had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $984.10 million. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.61 EPS. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Equities research analysts expect that Qorvo will post 4.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Qorvo

A number of hedge funds have recently bought and sold shares of the company. Sage Rhino Capital LLC raised its stake in Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company’s stock valued at $342,000 after buying an additional 160 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Qorvo by 5.3% during the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 160 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 161 shares during the last quarter. Versant Capital Management Inc lifted its stake in Qorvo by 4.5% during the third quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company’s stock worth $377,000 after purchasing an additional 177 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Qorvo by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 180 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.