Qorvo - QRVO Stock Forecast, Price & News

22 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Qorvo in the last twelve months. There are currently 2 sell ratings, 15 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street equities research 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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22 equities research analysts have issued 12 month target prices for Qorvo's stock. Their QRVO share price forecasts range from $80.00 to $140.00. On average, they anticipate the company's stock price to reach $109.57 in the next year. This suggests a possible upside of 10.4% 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 shares have increased by 9.5% and is now trading at $99.21.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023.
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Qorvo, Inc. (NASDAQ:QRVO) announced its quarterly earnings results on Wednesday, February, 1st. The semiconductor company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.12. The semiconductor company earned $743.30 million during the quarter, compared to analyst estimates of $726.33 million. Qorvo had a net margin of 11.06% and a trailing twelve-month return on equity of 19.41%. Qorvo's revenue for the quarter was down 33.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.81 earnings per share.
Read the conference call transcript.

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

Qorvo announced that its board has initiated a share buyback program on Wednesday, November 2nd 2022, which permits the company to repurchase $2,000,000,000.00 in shares, according to EventVestor. This repurchase authorization permits the company to purchase up to 22.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Qorvo updated its fourth quarter earnings guidance on Wednesday, February, 1st. The company provided EPS guidance of $0.10-0.15 for the period, compared to the consensus earnings per share estimate of $0.60. The company issued revenue guidance of $600-640 million, compared to the consensus revenue estimate of $725.88 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 institutional and retail investors. Top institutional shareholders include Boston Partners (3.61%), Vulcan Value Partners LLC (2.73%), Geode Capital Management LLC (2.15%), LSV Asset Management (1.79%), Dimensional Fund Advisors LP (1.61%) and Point72 Asset Management L.P. (1.28%). 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 $99.21.

Qorvo (NASDAQ:QRVO) has a market capitalization of $9.91 billion and generates $4.65 billion in revenue each year. The semiconductor company earns $1.03 billion in net income (profit) each year or $4.26 on an earnings per share basis.

The company employs 8,900 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.