Qorvo (NASDAQ:QRVO – Get Free Report) updated its FY 2027 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 7.000-7.000 for the period, compared to the consensus EPS estimate of 6.690. The company issued revenue guidance of -.
Analysts Set New Price Targets
Several analysts have issued reports on the company. UBS Group boosted their target price on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Mizuho restated an “underperform” rating and issued a $66.00 price objective (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Saturday. Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Finally, Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.07.
Get Our Latest Analysis on Qorvo
Qorvo Price Performance
Qorvo (NASDAQ:QRVO – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo will post 5.83 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the transaction, the vice president owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the completion of the transaction, the chief executive officer owned 319,880 shares in the company, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,966,127 shares of company stock worth $198,911,103. Insiders own 0.49% of the company’s stock.
Institutional Trading of Qorvo
A number of hedge funds have recently made changes to their positions in QRVO. Invesco Ltd. raised its position in Qorvo by 29.7% during the fourth quarter. Invesco Ltd. now owns 457,028 shares of the semiconductor company’s stock valued at $38,623,000 after purchasing an additional 104,574 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Qorvo by 1,436.7% during the 4th quarter. Corient Private Wealth LLC now owns 159,652 shares of the semiconductor company’s stock valued at $13,492,000 after purchasing an additional 149,263 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Qorvo by 33.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,776 shares of the semiconductor company’s stock valued at $1,756,000 after buying an additional 5,260 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Qorvo during the 4th quarter valued at about $640,000. Finally, Empowered Funds LLC lifted its position in Qorvo by 271.2% in the 4th quarter. Empowered Funds LLC now owns 19,975 shares of the semiconductor company’s stock worth $1,688,000 after buying an additional 14,594 shares during the last quarter. 88.57% of the stock is owned by institutional investors.
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.
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