Qorvo (NASDAQ:QRVO) Raised to "Overweight" at Barclays

Key Points

• Barclays upgraded Qorvo (NASDAQ:QRVO) from "equal weight" to "overweight" and set a $100 price target, implying roughly a 20.35% upside from the current price.
• Despite the upgrade, the analyst consensus remains a "Hold" with an average price target of $93.94 and a breakdown of 3 Buys, 17 Holds and 1 Sell.
• Qorvo beat quarterly expectations with EPS $2.17 vs. $1.93 expected and revenue $993M vs. $984.1M, and provided Q4 2026 guidance of 1.050–1.350 EPS while analysts forecast ~5.29 EPS for the fiscal year.

Qorvo (NASDAQ:QRVO - Get Free Report) was upgraded by equities research analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $100.00 price target on the semiconductor company's stock. Barclays's price target suggests a potential upside of 20.35% from the company's current price.

A number of other equities analysts also recently weighed in on QRVO. KeyCorp reaffirmed a "sector weight" rating on shares of Qorvo in a research note on Wednesday, January 28th. Craig Hallum decreased their target price on shares of Qorvo from $110.00 to $95.00 and set a "buy" rating for the company in a research note on Wednesday, January 28th. Wolfe Research downgraded shares of Qorvo from an "outperform" rating to a "peer perform" rating in a research note on Friday. Morgan Stanley set a $84.00 target price on shares of Qorvo in a research note on Wednesday, January 28th. Finally, Susquehanna decreased their target price on shares of Qorvo from $95.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $93.94.

Qorvo Price Performance

QRVO opened at $83.09 on Wednesday. The stock has a fifty day simple moving average of $80.32 and a two-hundred day simple moving average of $84.00. The company has a current ratio of 3.67, a quick ratio of 2.89 and a debt-to-equity ratio of 0.42. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.30 and a beta of 1.34. Qorvo has a 12-month low of $58.23 and a 12-month high of $106.30.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.24. The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $984.10 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 earnings per share. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Research analysts predict that Qorvo will post 5.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Qorvo

A number of institutional investors have recently made changes to their positions in the company. Sage Rhino Capital LLC grew its holdings in shares of Qorvo by 4.4% during the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company's stock valued at $342,000 after buying an additional 160 shares during the last quarter. Fred Alger Management LLC grew its holdings in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company's stock valued at $290,000 after buying an additional 160 shares during the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company's stock valued at $254,000 after buying an additional 161 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company's stock valued at $306,000 after buying an additional 167 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Qorvo by 4.5% during the third quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company's stock valued at $377,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

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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