Qorvo (NASDAQ:QRVO) Shares Gap Down on Analyst Downgrade

Qorvo, Inc. (NASDAQ:QRVO)’s stock price gapped down prior to trading on Wednesday after Citigroup lowered their price target on the stock from $100.00 to $95.00. The stock had previously closed at $91.76, but opened at $86.41. Citigroup currently has a neutral rating on the stock. Qorvo shares last traded at $88.6530, with a volume of 536,097 shares trading hands.

QRVO has been the topic of a number of other reports. Mizuho reiterated an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Craig Hallum restated a “buy” rating and set a $120.00 price target on shares of Qorvo in a research report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday. Wolfe Research lowered shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and a consensus target price of $96.47.

Insider Transactions at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the completion of the sale, the chief executive officer directly owned 319,880 shares of the company’s stock, valued at $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares in the company, valued at approximately $7,103,800. The trade was a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,966,127 shares of company stock valued at $198,911,103. Corporate insiders own 0.49% of the company’s stock.

Key Stories Impacting Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo reported fiscal first-quarter adjusted earnings of $1.64 per share, well above the $1.11 consensus estimate, while revenue of approximately $784.8 million exceeded expectations. The company also raised its fiscal 2027 EPS outlook to $7.00, above the $6.69 analyst consensus. Qorvo Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Profitability improved significantly year over year, with stronger gross and operating profit, $139.5 million in operating cash flow and approximately $1.3 billion in cash. These results support the company’s financial flexibility as it advances its planned combination with Skyworks Solutions. Qorvo Fiscal 2027 First Quarter Results
• Neutral Sentiment: Skyworks and Qorvo unveiled a leadership team for their planned merger, while Skyworks outlined acquisition financing and capital-allocation plans. The combination could create strategic benefits, but investors continue to monitor regulatory approvals, debt financing and execution risks. Skyworks and Qorvo Unveil Merger Leadership Team
• Negative Sentiment: Despite the earnings beat, revenue fell roughly 4% from the prior year, highlighting continuing demand and growth concerns. Susquehanna reiterated a Hold rating with an $80 price target, citing valuation, while UBS maintained Hold but raised its target to $96 following the results and merger developments. Susquehanna Maintains Hold on Qorvo
• Negative Sentiment: Reported insider-trading data showed sizable net selling by Qorvo insiders over the past six months and no open-market purchases, which may reinforce caution about the stock’s valuation and near-term upside.

Institutional Investors Weigh In On Qorvo

Several institutional investors have recently added to or reduced their stakes in the business. Platform Technology Partners purchased a new position in shares of Qorvo in the second quarter worth about $221,000. Legacy Advisors LLC purchased a new stake in shares of Qorvo during the 2nd quarter valued at approximately $347,000. Olympiad Research LP boosted its holdings in Qorvo by 13.1% in the 2nd quarter. Olympiad Research LP now owns 17,666 shares of the semiconductor company’s stock worth $1,648,000 after buying an additional 2,045 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Qorvo by 11.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,401 shares of the semiconductor company’s stock worth $10,950,000 after buying an additional 11,745 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its stake in Qorvo by 15.4% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 4,208 shares of the semiconductor company’s stock valued at $392,000 after buying an additional 560 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

The business’s 50 day moving average is $94.52 and its two-hundred day moving average is $86.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The firm has a market capitalization of $8.05 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. The business’s quarterly revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts anticipate that Qorvo, Inc. will post 5.83 earnings per share for the current fiscal year.

About Qorvo

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.