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

Zacks Research upgraded shares of Qorvo (NASDAQ:QRVO) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

QRVO has been the subject of several other reports. Piper Sandler reiterated a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. TD Cowen cut their target price on Qorvo from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a research report on Wednesday, January 28th. Barclays upped their target price on shares of Qorvo from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley set a $84.00 price target on Qorvo in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $93.88.

Qorvo Trading Up 0.8%

Shares of NASDAQ:QRVO opened at $77.74 on Wednesday. The business’s 50 day moving average price is $80.93 and its 200-day moving average price is $85.91. Qorvo has a 1 year low of $49.46 and a 1 year high of $106.30. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.67 and a quick ratio of 2.89.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.93 by $0.24. The company had revenue of $993.00 million during the quarter, compared to analyst estimates of $984.10 million. Qorvo had a net margin of 9.11% and a return on equity of 14.57%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. On average, equities research analysts forecast that Qorvo will post 4.09 earnings per share for the current fiscal year.

Institutional Trading of Qorvo

A number of institutional investors have recently bought and sold shares of QRVO. Nisa Investment Advisors LLC purchased a new stake in Qorvo during the third quarter worth approximately $25,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Qorvo in the second quarter valued at about $25,000. Winnow Wealth LLC acquired a new stake in Qorvo during the 3rd quarter worth approximately $27,000. Stance Capital LLC acquired a new stake in shares of Qorvo during the third quarter worth $27,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 231 shares during the period. 88.57% of the stock is owned by hedge funds and other 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.