Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Rating of “Hold” by Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have received a consensus rating of “Hold” from the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $96.6250.

QRVO has been the topic of a number of research reports. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Benchmark restated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. Morgan Stanley set a $84.00 price objective on Qorvo in a report on Wednesday, January 28th. Piper Sandler restated a “neutral” rating on shares of Qorvo in a report on Wednesday, January 28th. Finally, KeyCorp restated a “sector weight” rating on shares of Qorvo in a report on Wednesday, January 28th.

Hedge Funds Weigh In On Qorvo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new position in Qorvo during the third quarter valued at approximately $25,000. Winnow Wealth LLC acquired a new position in Qorvo during the third quarter valued at approximately $27,000. Stance Capital LLC acquired a new position in Qorvo during the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its holdings in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Up 1.8%

NASDAQ:QRVO opened at $90.53 on Friday. The stock’s 50 day moving average price is $81.28 and its 200 day moving average price is $83.91. Qorvo has a 52 week low of $71.73 and a 52 week high of $106.30. The company has a market capitalization of $8.39 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.89 and a current ratio of 3.24.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm had revenue of $808.28 million for the quarter, compared to the consensus estimate of $801.31 million. During the same quarter in the prior year, the company posted $1.42 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, research analysts forecast that Qorvo will post 5.82 EPS for the current fiscal year.

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.