Citigroup Has Lowered Expectations for Qorvo (NASDAQ:QRVO) Stock Price

Qorvo (NASDAQ:QRVO) had its price target dropped by Citigroup from $100.00 to $95.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup’s price target indicates a potential upside of 5.87% from the company’s previous close.

QRVO has been the topic of several other reports. Mizuho restated an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. UBS Group reiterated a “buy” rating and issued a $96.00 price target on shares of Qorvo in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Finally, Wall Street Zen lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.47.

Qorvo Price Performance

QRVO traded down $2.03 during trading hours on Wednesday, hitting $89.73. The company’s stock had a trading volume of 664,961 shares, compared to its average volume of 1,276,872. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.41 and a beta of 1.44. The business’s 50-day moving average price is $94.52 and its 200-day moving average price is $86.66. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. Qorvo has a 12 month low of $74.92 and a 12 month high of $109.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $784.79 million during the quarter, compared to analyst estimates of $743.28 million. During the same quarter last year, the business earned $0.92 earnings per share. Qorvo’s quarterly revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts expect that Qorvo will post 5.83 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the transaction, the chief executive officer owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the transaction, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,966,127 shares of company stock worth $198,911,103. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QRVO. State Street Corp increased its position in shares of Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after acquiring an additional 175,031 shares during the period. FIL Ltd lifted its position in Qorvo by 13.2% during the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock worth $305,085,000 after acquiring an additional 421,224 shares during the period. Dimensional Fund Advisors LP lifted its position in Qorvo by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock worth $168,842,000 after acquiring an additional 311,645 shares during the period. Bank of America Corp DE grew its stake in Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after purchasing an additional 1,571,303 shares during the last quarter. Finally, LSV Asset Management grew its stake in Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo News Summary

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.

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.