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 analysts have issued 12-month price targets for Qorvo's shares. Their QRVO share price forecasts range from $80.00 to $140.00. On average, they expect the company's share price to reach $108.78 in the next year. This suggests a possible upside of 10.5% from the stock's current price.
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Qorvo's stock was trading at $90.64 at the start of the year. Since then, QRVO shares have increased by 8.6% and is now trading at $98.44.
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Qorvo saw a increase in short interest in the month of 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 sold short.
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) issued its quarterly earnings results on Wednesday, May, 3rd. The semiconductor company reported $0.26 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 analysts' expectations of $621.35 million. Qorvo had a trailing twelve-month return on equity of 12.53% and a net margin of 2.89%. 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 business posted $3.03 earnings per share.
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 announced that its board has initiated a share buyback program on Wednesday, November 2nd 2022, which allows the company to repurchase $2,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to buy up to 22.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Qorvo issued an update on its first quarter 2024 earnings guidance on Wednesday, May, 3rd. The company provided earnings per share (EPS) guidance of $0.15-$0.15 for the period, compared to the consensus earnings per share 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 many different 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 $98.44.

Qorvo (NASDAQ:QRVO) has a market capitalization of $9.72 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.