Qorvo (NASDAQ:QRVO) Shares Gap Down Following Analyst Downgrade

Qorvo, Inc. (NASDAQ:QRVO)’s share price gapped down before the market opened on Wednesday after Citigroup lowered their price target on the stock from $100.00 to $95.00. The stock had previously closed at $91.76, but opened at $86.41. Citigroup currently has a neutral rating on the stock. Qorvo shares last traded at $88.6530, with a volume of 536,097 shares.

Several other brokerages also recently commented on QRVO. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday. JPMorgan Chase & Co. upped their target price on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, UBS Group reiterated a “buy” rating and issued a $96.00 target price (up from $91.00) on shares of Qorvo in a report on Wednesday. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.47.

Insider Buying and Selling at Qorvo

In related news, Director Peter A. Feld sold 1,900,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares of the company’s stock, valued at $32,115,952. This represents a 15.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,966,127 shares of company stock worth $198,911,103 in the last quarter. 0.49% of the stock is owned by insiders.

Trending Headlines about Qorvo

Here are the key news stories impacting Qorvo this week:

• Positive Sentiment: Qorvo reported fiscal first-quarter adjusted earnings of $1.64 per share, well above the $1.11 consensus estimate, while revenue of approximately $784.8 million exceeded expectations. The company also raised its fiscal 2027 EPS outlook to $7.00, above the $6.69 analyst consensus. Qorvo Beats Q1 Earnings and Revenue Estimates
• Positive Sentiment: Profitability improved significantly year over year, with stronger gross and operating profit, $139.5 million in operating cash flow and approximately $1.3 billion in cash. These results support the company’s financial flexibility as it advances its planned combination with Skyworks Solutions. Qorvo Fiscal 2027 First Quarter Results
• Neutral Sentiment: Skyworks and Qorvo unveiled a leadership team for their planned merger, while Skyworks outlined acquisition financing and capital-allocation plans. The combination could create strategic benefits, but investors continue to monitor regulatory approvals, debt financing and execution risks. Skyworks and Qorvo Unveil Merger Leadership Team
• Negative Sentiment: Despite the earnings beat, revenue fell roughly 4% from the prior year, highlighting continuing demand and growth concerns. Susquehanna reiterated a Hold rating with an $80 price target, citing valuation, while UBS maintained Hold but raised its target to $96 following the results and merger developments. Susquehanna Maintains Hold on Qorvo
• Negative Sentiment: Reported insider-trading data showed sizable net selling by Qorvo insiders over the past six months and no open-market purchases, which may reinforce caution about the stock’s valuation and near-term upside.

Hedge Funds Weigh In On Qorvo

Several large investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Qorvo by 5.0% in the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after acquiring an additional 175,031 shares in the last quarter. FIL Ltd lifted its position in shares of Qorvo by 13.2% during the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock valued at $305,085,000 after purchasing an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Qorvo by 16.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock worth $168,842,000 after purchasing an additional 311,645 shares during the last quarter. Bank of America Corp DE boosted its holdings in Qorvo by 801.4% during the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after purchasing an additional 1,571,303 shares during the last quarter. Finally, LSV Asset Management grew its position in Qorvo by 2.3% in the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock worth $131,452,000 after purchasing an additional 34,605 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Down 0.6%

The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $8.05 billion, a P/E ratio of 25.28, a P/E/G ratio of 1.41 and a beta of 1.44. The stock’s 50-day simple moving average is $94.52 and its 200-day simple moving average is $86.66.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter last year, the firm earned $0.92 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, research analysts predict that Qorvo, Inc. will post 5.83 earnings per share for the current fiscal year.

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.