Qorvo (NASDAQ:QRVO) Cut to Strong Sell at Zacks Research

Qorvo (NASDAQ:QRVO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

QRVO has been the subject of several other reports. Weiss Ratings downgraded shares of Qorvo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Cfra reissued a “hold” rating and set a $122.00 price objective on shares of Qorvo in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised Qorvo from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $92.00 to $105.00 in a research report on Tuesday, November 4th. Cfra Research raised Qorvo to a “hold” rating in a research report on Tuesday, October 28th. Finally, Argus upgraded shares of Qorvo to a “hold” rating in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Qorvo presently has an average rating of “Hold” and a consensus target price of $100.07.

Qorvo Stock Down 0.3%

QRVO opened at $79.85 on Monday. The company has a market cap of $7.38 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. The company has a 50 day moving average of $84.93 and a 200 day moving average of $88.01. Qorvo has a 12 month low of $49.46 and a 12 month high of $106.30. The company has a current ratio of 2.95, a quick ratio of 2.20 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Monday, November 3rd. The semiconductor company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.19. Qorvo had a net margin of 5.95% and a return on equity of 13.30%. The company had revenue of $1.06 billion during the quarter. During the same quarter last year, the business posted $1.88 earnings per share. Qorvo’s revenue was up 1.1% compared to the same quarter last year. Qorvo has set its Q3 2026 guidance at 1.650-2.050 EPS. On average, sell-side analysts expect that Qorvo will post 4.09 EPS for the current year.

Institutional Investors Weigh In On Qorvo

Several hedge funds and other institutional investors have recently made changes to their positions in QRVO. Jones Financial Companies Lllp increased its holdings in Qorvo by 440.1% during the 1st quarter. Jones Financial Companies Lllp now owns 8,134 shares of the semiconductor company’s stock worth $589,000 after purchasing an additional 6,628 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Qorvo by 1.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company’s stock valued at $682,000 after acquiring an additional 118 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Qorvo by 13.6% in the second quarter. GAMMA Investing LLC now owns 4,162 shares of the semiconductor company’s stock worth $353,000 after buying an additional 497 shares during the last quarter. Norden Group LLC acquired a new stake in Qorvo during the 2nd quarter worth about $205,000. Finally, Public Employees Retirement System of Ohio boosted its position in Qorvo by 0.7% in the second quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company’s stock valued at $2,630,000 after buying an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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.