Qorvo Stock Price, News & Analysis (NASDAQ:QRVO)

19 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Qorvo in the last year. There are currently 2 sell ratings, 9 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" QRVO shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in QRVO, but not buy additional shares or sell existing shares.
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19 analysts have issued twelve-month price objectives for Qorvo's stock. Their QRVO share price targets range from $78.00 to $135.00. On average, they expect the company's share price to reach $109.11 in the next year. This suggests a possible upside of 4.9% from the stock's current price.
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Qorvo's stock was trading at $90.64 at the beginning of 2023. Since then, QRVO stock has increased by 14.7% and is now trading at $103.97.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 7th 2024.
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Qorvo, Inc. (NASDAQ:QRVO) issued its quarterly earnings data on Wednesday, November, 1st. The semiconductor company reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.49 by $0.50. The semiconductor company earned $1.10 billion during the quarter, compared to analysts' expectations of $1 billion. Qorvo had a negative net margin of 3.21% and a positive trailing twelve-month return on equity of 6.92%.

ETFs with the largest weight of Qorvo (NASDAQ:QRVO) stock in their portfolio include First Trust Nasdaq Semiconductor ETF (FTXL), BTD Capital Fund (DIP), SPDR S&P Semiconductor ETF (XSD), Columbia Seligman Semiconductor and Technology ETF (SEMI), iShares Future Cloud 5G and Tech ETF (IDAT), Defiance Next Gen Connectivity ETF (FIVG), OneAscent Large Cap Core ETF (OALC) and Invesco S&P 500 Equal Weight Technology ETF (RSPT).

Qorvo declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 2nd 2022, which authorizes the company to repurchase $2,000,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase up to 22.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Qorvo issued an update on its third quarter earnings guidance on Wednesday, November, 1st. The company provided EPS guidance of $1.65 for the period, compared to the consensus earnings per share estimate of $1.61. The company issued revenue guidance of $0.975-1.025 billion, compared to the consensus revenue estimate of $991.22 million.

90 employees have rated Qorvo Chief Executive Officer Robert Bruggeworth on Glassdoor.com. Robert Bruggeworth has an approval rating of 72% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Qorvo investors own include Skyworks Solutions (SWKS), NVIDIA (NVDA), Micron Technology (MU), QUALCOMM (QCOM), Advanced Micro Devices (AMD), Intel (INTC), Salesforce (CRM), Alibaba Group (BABA), Tesla (TSLA) and Cisco Systems (CSCO).

Qorvo's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Barclays PLC (3.95%), Invesco Ltd. (2.04%), Boston Partners (1.47%), JPMorgan Chase & Co. (1.35%), UBS Group AG (1.30%) and Ameriprise Financial Inc. (1.26%). Insiders that own company stock include Frank P Stewart, Gina Harrison, Grant Brown, James L Klein, James L Klein, Jeffery R Gardner, John R Harding, Mark J Murphy, Paul J Fego, Philip Chesley, Robert A Bruggeworth, Robert A Bruggeworth, Roderick Nelson, Steven E Creviston and Walden C Rhines.
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Shares of QRVO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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