Qorvo (NASDAQ:QRVO) Price Target Lowered to $95.00 at Citigroup

Qorvo (NASDAQ:QRVO) had its price target lowered by investment analysts at Citigroup from $100.00 to $95.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price objective indicates a potential upside of 5.87% from the company’s current price.

Several other equities analysts have also recently issued reports on QRVO. Craig Hallum reiterated a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Friday. UBS Group reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Qorvo in a report on Wednesday. Barclays raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and an average target price of $96.47.

Qorvo Stock Performance

Shares of QRVO stock traded down $2.03 during trading hours on Wednesday, hitting $89.73. The company’s stock had a trading volume of 664,961 shares, compared to its average volume of 1,276,872. The company has a 50 day moving average of $94.52 and a 200 day moving average of $86.66. The stock has a market cap of $7.92 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. Qorvo has a 12-month low of $74.92 and a 12-month high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. The firm had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts forecast that Qorvo will post 5.83 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the sale, the vice president owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president directly owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. This represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,966,127 shares of company stock valued at $198,911,103 over the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after purchasing an additional 1,571,303 shares in the last quarter. AQR Arbitrage LLC acquired a new stake in shares of Qorvo in the fourth quarter valued at approximately $118,204,000. Norges Bank purchased a new position in Qorvo during the fourth quarter worth approximately $92,430,000. Assenagon Asset Management S.A. lifted its position in Qorvo by 435.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company’s stock worth $110,422,000 after buying an additional 962,593 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Qorvo by 16,066.5% during the third quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock worth $74,197,000 after buying an additional 809,591 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

More Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo reported fiscal first-quarter adjusted earnings of $1.64 per share, well above the $1.11 consensus estimate, while revenue of approximately $784.8 million exceeded expectations. The company also raised its fiscal 2027 EPS outlook to $7.00, above the $6.69 analyst consensus. Qorvo Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Profitability improved significantly year over year, with stronger gross and operating profit, $139.5 million in operating cash flow and approximately $1.3 billion in cash. These results support the company’s financial flexibility as it advances its planned combination with Skyworks Solutions. Qorvo Fiscal 2027 First Quarter Results
• Neutral Sentiment: Skyworks and Qorvo unveiled a leadership team for their planned merger, while Skyworks outlined acquisition financing and capital-allocation plans. The combination could create strategic benefits, but investors continue to monitor regulatory approvals, debt financing and execution risks. Skyworks and Qorvo Unveil Merger Leadership Team
• Negative Sentiment: Despite the earnings beat, revenue fell roughly 4% from the prior year, highlighting continuing demand and growth concerns. Susquehanna reiterated a Hold rating with an $80 price target, citing valuation, while UBS maintained Hold but raised its target to $96 following the results and merger developments. Susquehanna Maintains Hold on Qorvo
• Negative Sentiment: Reported insider-trading data showed sizable net selling by Qorvo insiders over the past six months and no open-market purchases, which may reinforce caution about the stock’s valuation and near-term upside.

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.