Qorvo (NASDAQ:QRVO) Given New $100.00 Price Target at Citigroup

Qorvo (NASDAQ:QRVO) had its price objective upped by Citigroup from $90.00 to $100.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, January 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Qorvo in a research report on Wednesday, January 28th. Mizuho reiterated an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. UBS Group raised their target price on Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wolfe Research cut Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Three analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Qorvo presently has an average rating of “Hold” and a consensus target price of $96.63.

Qorvo Stock Up 0.0%

QRVO opened at $88.97 on Thursday. Qorvo has a 1 year low of $71.64 and a 1 year high of $106.30. The firm has a 50 day moving average price of $81.28 and a 200 day moving average price of $83.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.89 and a current ratio of 3.24. The company has a market cap of $8.25 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.40 and a beta of 1.42.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm had revenue of $808.30 million for the quarter, compared to analysts’ expectations of $801.31 million. During the same period in the previous year, the company posted $1.42 earnings per share. Qorvo’s revenue was down 7.0% 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 5.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new position in shares of Qorvo in the 3rd quarter valued at approximately $25,000. Winnow Wealth LLC acquired a new stake in shares of Qorvo during the third quarter worth approximately $27,000. Stance Capital LLC acquired a new stake in shares of Qorvo during the third quarter worth approximately $27,000. Smartleaf Asset Management LLC increased its stake in shares of Qorvo by 215.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in Qorvo by 952.8% in the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 343 shares in 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.