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 brokers have issued 1 year price objectives 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 $109.57 in the next twelve months. This suggests a possible upside of 10.1% 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 shares have increased by 9.7% and is now trading at $99.47.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023.
View our QRVO earnings forecast.

Qorvo, Inc. (NASDAQ:QRVO) issued its quarterly earnings data on Wednesday, February, 1st. The semiconductor company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. The semiconductor company earned $743.30 million during the quarter, compared to analysts' expectations of $726.33 million. Qorvo had a trailing twelve-month return on equity of 19.41% and a net margin of 11.06%. The business's revenue for the quarter was down 33.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.81 EPS.
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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 declared that its board has initiated a stock buyback program on Wednesday, November 2nd 2022, which allows the company to repurchase $2,000,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to repurchase up to 22.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its stock is undervalued.

Qorvo issued an update on its fourth quarter earnings guidance on Wednesday, February, 1st. The company provided earnings per share (EPS) guidance of $0.10-0.15 for the period, compared to the consensus EPS 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 many different 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 $99.47.

Qorvo (NASDAQ:QRVO) has a market capitalization of $9.94 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.