Qorvo (NASDAQ:QRVO) Rating Increased to Strong-Buy at Zacks Research

Qorvo (NASDAQ:QRVO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Morgan Stanley set a $84.00 price objective on shares of Qorvo in a research report on Wednesday, January 28th. Craig Hallum dropped their price objective on Qorvo from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Mizuho decreased their target price on Qorvo from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Weiss Ratings raised Qorvo from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, January 29th. Finally, Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seventeen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.88.

Qorvo Stock Up 0.8%

QRVO stock opened at $77.74 on Wednesday. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.34 and a beta of 1.35. Qorvo has a twelve month low of $49.46 and a twelve month high of $106.30. The business has a 50 day moving average price of $80.93 and a two-hundred day moving average price of $85.91. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.24. The company had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $984.10 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Analysts anticipate that Qorvo will post 4.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Qorvo

Several hedge funds and other institutional investors have recently made changes to their positions in QRVO. Norges Bank acquired a new stake in Qorvo in the second quarter valued at approximately $153,994,000. AQR Arbitrage LLC acquired a new position in shares of Qorvo during the fourth quarter worth $118,204,000. Marshall Wace LLP lifted its stake in shares of Qorvo by 16,066.5% in the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after acquiring an additional 809,591 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Qorvo in the 3rd quarter valued at $66,594,000. Finally, Dorsal Capital Management LP boosted its holdings in shares of Qorvo by 146.9% during the 3rd quarter. Dorsal Capital Management LP now owns 1,000,000 shares of the semiconductor company’s stock valued at $91,080,000 after acquiring an additional 595,000 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.