Qorvo (NASDAQ:QRVO) Trading Down 4.4% - Time to Sell?

Key Points

• Qorvo's shares fell 4.4%, closing at $88.03 following a significant drop in trading volume.
• Research reports show a mixed outlook, with Benchmark raising their price target to $125, while Citigroup reaffirmed a "sell" rating.
• In their latest earnings report, Qorvo beat estimates with $0.92 earnings per share but reported a 7.7% decline in quarterly revenue compared to the previous year.

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report)'s share price traded down 4.4% during trading on Wednesday . The company traded as low as $85.70 and last traded at $88.03. 298,895 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,309,604 shares. The stock had previously closed at $92.11.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Qorvo in a research report on Thursday, July 10th. They set a "neutral" rating and a $90.00 target price on the stock. Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research report on Wednesday, September 10th. Stifel Nicolaus set a $88.00 target price on Qorvo and gave the company a "hold" rating in a research report on Wednesday, July 30th. Wall Street Zen raised Qorvo from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Susquehanna reaffirmed a "neutral" rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $95.35.

Qorvo Price Performance

The company has a current ratio of 2.81, a quick ratio of 2.01 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $88.64 and a 200 day moving average price of $78.08. The stock has a market cap of $8.01 billion, a PE ratio of 101.66, a PEG ratio of 1.69 and a beta of 1.39.

Qorvo (NASDAQ:QRVO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.30. Qorvo had a return on equity of 12.63% and a net margin of 2.21%.The firm had revenue of $818.80 million for the quarter, compared to analysts' expectations of $775.61 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. Qorvo has set its Q2 2026 guidance at 1.750-2.250 EPS. As a group, research analysts forecast that Qorvo, Inc. will post 4.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Qorvo

Institutional investors have recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new position in Qorvo in the 2nd quarter worth about $25,000. City Holding Co. bought a new position in Qorvo in the 1st quarter worth about $25,000. Banque Transatlantique SA purchased a new position in shares of Qorvo in the 1st quarter worth about $27,000. Larson Financial Group LLC raised its holdings in shares of Qorvo by 222.6% during the 1st quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock valued at $31,000 after buying an additional 296 shares in the last quarter. Finally, Curat Global LLC bought a new stake in Qorvo in the 1st quarter worth approximately $34,000. 88.57% of the stock is currently owned by institutional investors.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.