Short Interest in Qorvo, Inc. (NASDAQ:QRVO) Declines By 23.2%

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 3,740,000 shares, a decrease of 23.2% from the July 31st total of 4,870,000 shares. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 4.1% of the company's stock are sold short. Approximately 4.1% of the company's stock are sold short. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Trading of Qorvo

A number of institutional investors have recently modified their holdings of QRVO. Twin Peaks Wealth Advisors LLC acquired a new position in Qorvo during the second quarter worth $25,000. City Holding Co. acquired a new position in Qorvo during the first quarter worth $25,000. Banque Transatlantique SA acquired a new position in Qorvo during the first quarter worth $27,000. Larson Financial Group LLC raised its holdings in Qorvo by 222.6% during the first quarter. Larson Financial Group LLC now owns 429 shares of the semiconductor company's stock worth $31,000 after purchasing an additional 296 shares during the last quarter. Finally, Curat Global LLC acquired a new position in Qorvo during the first quarter worth $34,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QRVO shares. Stifel Nicolaus set a $88.00 price objective on Qorvo and gave the company a "hold" rating in a report on Wednesday, July 30th. Piper Sandler increased their price objective on Qorvo from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded Qorvo from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Needham & Company LLC increased their price objective on Qorvo from $90.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Mizuho set a $84.00 price objective on Qorvo and gave the company a "neutral" rating in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $95.35.

Qorvo Stock Performance

Qorvo stock traded down $0.86 during mid-day trading on Friday, reaching $86.81. 2,045,327 shares of the company were exchanged, compared to its average volume of 1,473,118. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.81. Qorvo has a twelve month low of $49.46 and a twelve month high of $108.44. The firm has a market cap of $8.04 billion, a PE ratio of 102.13, a price-to-earnings-growth ratio of 1.71 and a beta of 1.39. The firm's 50-day simple moving average is $88.64 and its two-hundred day simple moving average is $78.03.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share 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 the consensus estimate of $775.61 million. During the same period in the previous year, the business earned $0.87 earnings per share. The company'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. Equities analysts predict that Qorvo will post 4.09 earnings per share for the current fiscal year.

Qorvo Company Profile

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.