Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Qorvo, with 14 hold, three buy and one sell rating among 18 analysts. The average 12-month price target is $94, below the reported share price of $100.38.
• Qorvo reported quarterly EPS of $1.64, well above the $1.11 consensus estimate, while revenue reached $784.79 million but declined 4.2% year over year.
• Investor sentiment faces mixed signals: Skyworks extended its Qorvo note-exchange offer amid merger plans, while insiders sold approximately $5.46 million of stock over the past 90 days.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been assigned an average recommendation of "Hold" from the eighteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $94.00.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Several research firms have recently weighed in on QRVO. Citigroup decreased their price objective on Qorvo from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Wednesday, July 29th. TD Cowen reaffirmed a "hold" rating on shares of Qorvo in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a "hold" rating to a "buy" rating in a research report on Sunday, August 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Qorvo in a research note on Friday, July 24th. Finally, UBS Group raised their price objective on shares of Qorvo from $91.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th.

Key Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Mouser Electronics released a Qorvo-supported eBook highlighting RF solutions for drones, satellite communications and industrial IoT. The initiative reinforces Qorvo’s exposure to potentially growing markets requiring higher bandwidth, power efficiency and connectivity. Mouser Releases New Qorvo eBook on RF Solutions for Drones, SATCOM and IIoT Next-Generation Markets
• Positive Sentiment: Zacks identified Qorvo as a strong value stock, which could attract investors because of its valuation and earnings profile. The company’s latest quarterly results also showed an earnings beat, with EPS of $1.64 versus the $1.11 consensus estimate, although revenue declined 4.2% year over year. Here's Why Qorvo Is a Strong Value Stock
• Neutral Sentiment: Skyworks Solutions extended the expiration date for its offers to exchange Qorvo notes amid the companies’ merger plans. The extension keeps the transaction in focus but may prolong uncertainty around timing, financing and deal completion. Skyworks Extends Qorvo Note Exchange Amid Merger Plans
• Negative Sentiment: Qorvo insiders reported several sales totaling approximately $4.42 million. CEO Robert Bruggeworth sold 28,744 shares, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. Although such transactions can reflect diversification or planned selling, the concentration of sales may weigh on investor sentiment.

Insider Activity

In related news, CFO Grant Brown sold 5,179 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $97.50, for a total value of $504,952.50. Following the transaction, the chief financial officer owned 49,268 shares in the company, valued at $4,803,630. The trade was a 9.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Frank Stewart sold 8,279 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.72, for a total value of $784,186.88. Following the sale, the senior vice president directly owned 43,069 shares of the company's stock, valued at $4,079,495.68. The trade was a 16.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 54,999 shares of company stock valued at $5,458,714. Insiders own 0.49% of the company's stock.

Institutional Trading of Qorvo

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH grew its holdings in Qorvo by 12.1% during the second quarter. Allianz Asset Management GmbH now owns 825,960 shares of the semiconductor company's stock worth $77,037,000 after acquiring an additional 89,378 shares during the period. HighTower Advisors LLC raised its position in Qorvo by 2.0% in the second quarter. HighTower Advisors LLC now owns 39,520 shares of the semiconductor company's stock worth $3,686,000 after acquiring an additional 786 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Qorvo by 8,968.7% in the second quarter. California State Teachers Retirement System now owns 9,208,361 shares of the semiconductor company's stock valued at $858,864,000 after acquiring an additional 9,106,821 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Qorvo during the 2nd quarter worth $43,000. Finally, Wedmont Private Capital boosted its position in shares of Qorvo by 1.6% during the 2nd quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company's stock worth $879,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Stock Down 0.2%

QRVO stock opened at $100.38 on Friday. The stock has a market cap of $8.86 billion, a P/E ratio of 23.29, a PEG ratio of 1.77 and a beta of 1.45. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45. Qorvo has a twelve month low of $74.92 and a twelve month high of $109.49. The company's 50 day moving average is $91.91 and its two-hundred day moving average is $89.38.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The business had revenue of $784.79 million during the quarter, compared to analysts' expectations of $743.28 million. During the same quarter in the prior year, the business posted $0.92 EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts expect that Qorvo will post 6.3 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source