Qorvo, Inc. (NASDAQ:QRVO) Receives $94.00 Consensus Target Price from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO – Get Free Report) have received a consensus recommendation of “Hold” from the eighteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $94.00.

A number of analysts have recently weighed in on the stock. TD Cowen restated a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. UBS Group raised their target price on shares of Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Citigroup dropped their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd.

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Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Frank P. Stewart sold 8,279 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $94.72, for a total value of $784,186.88. Following the sale, the senior vice president owned 43,069 shares of the company’s stock, valued at $4,079,495.68. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert A. Bruggeworth sold 28,744 shares of Qorvo stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total value of $2,899,407.28. Following the completion of the transaction, the chief executive officer directly owned 325,546 shares in the company, valued at approximately $32,837,825.02. This represents a 8.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,999 shares of company stock worth $5,458,714 in the last ninety days. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Qorvo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Qorvo during the second quarter valued at about $32,000. Advisory Services Network LLC acquired a new position in shares of Qorvo during the third quarter valued at about $36,000. Elevation Wealth Partners LLC lifted its stake in shares of Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 310 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Qorvo by 60.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 180 shares during the period. Institutional investors own 88.57% of the company’s stock.

Key Qorvo News

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo’s latest quarterly results exceeded expectations: earnings per share came in at $1.64 versus the $1.11 consensus estimate, while revenue of roughly $784.8 million surpassed forecasts of $743.3 million. The earnings beat provides support for the stock, although revenue declined 4.2% year over year.
• Positive Sentiment: Institutional ownership remains high at approximately 88.6%, with major investors including BlackRock, California State Teachers’ Retirement System and Bank of America reportedly adding or initiating sizable positions. Such buying can reinforce investor confidence and provide demand for QRVO shares.
• Positive Sentiment: Qorvo’s exposure to radio-frequency solutions for drones, satellite communications and industrial IoT may offer longer-term growth opportunities in bandwidth, connectivity and power-efficiency markets.
• Neutral Sentiment: Brokerages maintain an average “Hold” recommendation, with three Buy ratings, fourteen Holds and one Sell. The average price target is $94, below recent trading levels, suggesting analysts see limited near-term upside despite the earnings beat. Qorvo Given Average Recommendation of Hold
• Neutral Sentiment: Skyworks Solutions’ extension of exchange offers for Qorvo notes keeps the companies’ merger plans in focus. The potential transaction could be a catalyst, but the extension also leaves timing, financing and completion risks unresolved.
• Negative Sentiment: Several executives recently sold shares. CEO Robert Bruggeworth sold 28,744 shares for approximately $2.9 million, while SVPs Steven Creviston, Paul Fego and Frank Stewart also reduced their holdings. The combined sales total roughly $4.4 million and could weigh on sentiment, though they may reflect routine diversification rather than a change in business outlook. Qorvo Insider Selling

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $102.84 on Friday. The stock has a market capitalization of $9.07 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.81 and a beta of 1.45. The business has a 50-day moving average of $92.09 and a two-hundred day moving average of $89.51. Qorvo has a fifty-two week low of $74.92 and a fifty-two week high of $109.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68.

Qorvo (NASDAQ:QRVO – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts predict that Qorvo will post 6.3 EPS for the current fiscal year.

About Qorvo

(Get Free Report)

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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