Qorvo (QRVO) Stock Forecast, Price & News

23 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Qorvo in the last year. There are currently 2 sell ratings, 14 hold ratings and 7 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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23 brokerages have issued 1 year target prices for Qorvo's shares. Their QRVO share price forecasts range from $80.00 to $140.00. On average, they predict the company's stock price to reach $108.78 in the next year. This suggests a possible upside of 11.0% from the stock's current price.
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Qorvo's stock was trading at $90.64 at the beginning of the year. Since then, QRVO stock has increased by 8.2% and is now trading at $98.04.
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Qorvo saw a increase in short interest in May. As of May 15th, there was short interest totaling 2,230,000 shares, an increase of 22.5% from the April 30th total of 1,820,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.3% of the shares of the company are short sold.
View Qorvo's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
View our QRVO earnings forecast.

Qorvo, Inc. (NASDAQ:QRVO) announced its quarterly earnings data on Wednesday, May, 3rd. The semiconductor company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.13. The semiconductor company had revenue of $632.70 million for the quarter, compared to the consensus estimate of $621.35 million. Qorvo had a net margin of 2.89% and a trailing twelve-month return on equity of 12.53%. The company's revenue for the quarter was down 45.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.03 EPS.
Read the conference call transcript.

ETFs with the largest weight of Qorvo (NASDAQ:QRVO) stock in their portfolio include Aztlan Global Stock Selection DM SMID ETF (AZTD), First Trust Nasdaq Semiconductor ETF (FTXL), SPDR S&P Semiconductor ETF (XSD), Columbia Seligman Semiconductor and Technology ETF (SEMI), SPDR S&P Kensho Intelligent Structures ETF (SIMS), iShares Future Cloud 5G and Tech ETF (IDAT), Invesco S&P 500 GARP ETF (SPGP) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD).

Qorvo declared that its Board of Directors has authorized a stock buyback program on Wednesday, November 2nd 2022, which permits the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to reacquire up to 22.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Qorvo issued an update on its first quarter 2024 earnings guidance on Wednesday, May, 3rd. The company provided EPS guidance of $0.15-$0.15 for the period, compared to the consensus EPS estimate of $0.18. The company issued revenue guidance of $620.00 million-$660.00 million, compared to the consensus revenue estimate of $628.28 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 trades on the NASDAQ under the ticker symbol "QRVO."

Qorvo's stock is owned by a number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (8.48%), State Street Corp (4.69%), Baupost Group LLC MA (4.65%), Boston Partners (2.55%), FIL Ltd (2.46%) and Geode Capital Management LLC (2.15%). Insiders that own company stock include Frank P Stewart, Gina Harrison, James L Klein, James L Klein, Jeffery R Gardner, John R Harding, Mark J Murphy, Paul J Fego, Robert A Bruggeworth, Robert A Bruggeworth, Roderick Nelson, Steven E Creviston and Walter H Wilkinson.
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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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One share of QRVO stock can currently be purchased for approximately $98.04.

Qorvo (NASDAQ:QRVO) has a market capitalization of $9.68 billion and generates $3.57 billion in revenue each year. The semiconductor company earns $103.15 million in net income (profit) each year or $0.92 on an earnings per share basis.

The company employs 8,500 workers across the globe.

Qorvo's mailing address is 7628 THORNDIKE ROAD, GREENSBORO NC, 27409. The official website for the company is www.qorvo.com. The semiconductor company can be reached via phone at (336) 664-1233 or via email at investor-relations@qorvo.com.