Qorvo (NASDAQ:QRVO) Shares Cross Below Two Hundred Day Moving Average Following Analyst Downgrade

Shares of Qorvo, Inc. (NASDAQ:QRVO) crossed below its two hundred day moving average during trading on Friday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock has a two hundred day moving average of $84.23 and traded as low as $80.46. Qorvo shares last traded at $81.90, with a volume of 1,085,846 shares trading hands.

QRVO has been the subject of several other reports. Stifel Nicolaus reduced their target price on Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. KeyCorp restated a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Piper Sandler restated a “neutral” rating on shares of Qorvo in a research note on Wednesday, January 28th. UBS Group dropped their price objective on Qorvo from $108.00 to $87.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings raised Qorvo from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and a consensus target price of $93.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Qorvo in the third quarter worth approximately $25,000. Winnow Wealth LLC purchased a new stake in shares of Qorvo during the third quarter valued at approximately $27,000. Stance Capital LLC purchased a new stake in shares of Qorvo during the third quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its position in shares of Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 231 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Qorvo by 952.8% during 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 during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Up 0.2%

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 stock has a 50-day moving average of $80.35 and a 200 day moving average of $84.18. The company has a market capitalization of $7.59 billion, a PE ratio of 22.56, a P/E/G ratio of 1.29 and a beta of 1.34.

Qorvo (NASDAQ:QRVO) last released its 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 during the quarter, compared to the consensus estimate of $984.10 million. During the same period last year, the business posted $1.61 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Qorvo has set its Q4 2026 guidance at 1.050-1.350 EPS. Sell-side analysts anticipate that Qorvo, Inc. will post 4.09 EPS for the current year.

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.