Barclays Forecasts Strong Price Appreciation for Qorvo (NASDAQ:QRVO) Stock

Qorvo (NASDAQ:QRVO) had its price target hoisted by investment analysts at Barclays from $90.00 to $95.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price would indicate a potential upside of 19.56% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Argus upgraded Qorvo to a “hold” rating in a research note on Wednesday, November 5th. Morgan Stanley set a $84.00 price objective on shares of Qorvo in a research report on Wednesday, January 28th. Zacks Research upgraded shares of Qorvo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup cut their price target on shares of Qorvo from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. upgraded shares of Qorvo from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $92.00 to $105.00 in a research note on Tuesday, November 4th. Two research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.88.

Qorvo Trading Down 2.2%

NASDAQ:QRVO opened at $79.46 on Tuesday. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.41 and a beta of 1.35. Qorvo has a 52 week low of $49.46 and a 52 week high of $106.30. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $82.46 and a 200 day moving average of $86.85.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position 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. Envestnet Asset Management Inc. boosted its stake in shares of Qorvo by 9.2% in the second quarter. Envestnet Asset Management Inc. now owns 22,028 shares of the semiconductor company’s stock worth $1,870,000 after buying an additional 1,851 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Qorvo by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 13,515 shares of the semiconductor company’s stock worth $1,148,000 after acquiring an additional 220 shares during the period. Atria Investments Inc acquired a new stake in Qorvo during the second quarter worth about $338,000. Finally, Versor Investments LP purchased a new position in Qorvo during the second quarter valued at approximately $603,000. 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.