Qorvo (NASDAQ:QRVO) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Qorvo from a "strong-buy" to a "hold," and the stock's analyst consensus is currently "Hold" with a consensus price target of $93.88 (two Buy vs. nineteen Hold ratings).
• Qorvo beat estimates in its latest quarter, reporting $2.17 EPS (vs. $1.93 expected) and $993M revenue (vs. $984.1M expected), with revenue up 8.4% year-over-year and Q4 guidance of $1.05–$1.35 EPS; analysts expect $4.09 EPS for the year.
• The shares trade around $81.90 with a 52-week range of $56.00–$106.30 and a market cap of $7.59 billion, and institutional investors own about 88.6% of the stock.

Qorvo (NASDAQ:QRVO - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Mizuho reduced their target price on shares of Qorvo from $85.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, January 28th. Craig Hallum reduced their target price on shares of Qorvo from $110.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, January 28th. Citigroup reduced their target price on shares of Qorvo from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, January 28th. Morgan Stanley set a $84.00 target price on shares of Qorvo in a report on Wednesday, January 28th. Finally, Barclays increased their target price on shares of Qorvo from $90.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company's stock. According to MarketBeat.com, Qorvo presently has a consensus rating of "Hold" and a consensus price target of $93.88.

Qorvo Price Performance

NASDAQ QRVO opened at $81.90 on Thursday. Qorvo has a 52 week low of $56.00 and a 52 week high of $106.30. The firm has a market capitalization of $7.59 billion, a P/E ratio of 22.56, a PEG ratio of 1.29 and a beta of 1.34. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $80.35 and a 200-day moving average price of $84.23.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QRVO. Jones Financial Companies Lllp boosted its stake in Qorvo by 440.1% in the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company's stock worth $589,000 after purchasing an additional 6,628 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Qorvo by 158.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company's stock worth $180,000 after purchasing an additional 1,301 shares during the period. First Trust Advisors LP boosted its stake in Qorvo by 56.5% in the 2nd quarter. First Trust Advisors LP now owns 142,503 shares of the semiconductor company's stock worth $12,100,000 after purchasing an additional 51,475 shares during the period. Marshall Wace LLP bought a new position in Qorvo in the 2nd quarter worth approximately $428,000. Finally, Cerity Partners LLC bought a new position in Qorvo in the 2nd quarter worth approximately $327,000. 88.57% of the stock is currently owned by institutional investors.

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.

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