Qorvo (NASDAQ:QRVO) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Qorvo from a "buy" to a "hold" rating, adding to a broader mix of mostly cautious analyst views on the stock.
• Across recent analyst coverage, Qorvo has a consensus rating of Hold with an average price target of $97.07. Ratings include three Buys, sixteen Holds, and one Sell.
• Qorvo reported better-than-expected quarterly earnings, posting EPS of $1.69 versus estimates of $1.21, while revenue of $808.28 million also slightly topped expectations.

Qorvo (NASDAQ:QRVO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

A number of other analysts have also issued reports on QRVO. Barclays raised shares of Qorvo from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Qorvo from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 16th. Weiss Ratings reiterated a "hold (c)" rating on shares of Qorvo in a report on Monday, April 27th. Wolfe Research cut shares of Qorvo from an "outperform" rating to a "peer perform" rating in a research report on Friday, April 17th. Finally, Mizuho restated an "underperform" rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $97.07.

Qorvo Trading Down 0.3%

Shares of NASDAQ QRVO opened at $86.51 on Friday. Qorvo has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.36 and a beta of 1.44. The business's 50 day moving average price is $94.67 and its 200-day moving average price is $86.58.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million during the quarter, compared to analysts' expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.Qorvo's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts expect that Qorvo will post 5.83 earnings per share for the current year.

Insider Activity

In other news, SVP Paul J. Fego sold 2,500 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the sale, the senior vice president directly owned 71,038 shares in the company, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Bruggeworth sold 57,957 shares of Qorvo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the transaction, the chief executive officer directly owned 319,880 shares in the company, valued at approximately $32,115,952. The trade was a 15.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Company insiders own 0.49% of the company's stock.

Institutional Investors Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of QRVO. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Qorvo by 952.8% in the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 343 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Qorvo in the 3rd quarter worth $36,000. Elevation Wealth Partners LLC grew its stake in Qorvo by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock worth $39,000 after buying an additional 310 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Qorvo during the 4th quarter worth $39,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.

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