Short Interest in Qorvo, Inc. (NASDAQ:QRVO) Grows By 50.6%

Qorvo, Inc. (NASDAQ:QRVOGet Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 3,372,416 shares, a growth of 50.6% from the December 31st total of 2,239,702 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,134,815 shares, the short-interest ratio is presently 3.0 days. Based on an average daily trading volume, of 1,134,815 shares, the short-interest ratio is presently 3.0 days. Approximately 3.7% of the shares of the stock are sold short.

More Qorvo News

Here are the key news stories impacting Qorvo this week:

Qorvo Stock Performance

Shares of QRVO remained flat at $78.11 during midday trading on Friday. The stock had a trading volume of 1,803,602 shares, compared to its average volume of 1,441,859. The firm has a market cap of $7.24 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.37. 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 company’s 50-day moving average is $84.49 and its two-hundred day moving average is $87.56. Qorvo has a 12-month low of $49.46 and a 12-month high of $106.30.

Qorvo (NASDAQ:QRVOGet Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $984.10 million. During the same quarter in the previous year, the firm posted $1.61 EPS. The company’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. On average, equities research analysts anticipate that Qorvo will post 4.09 EPS for the current year.

Institutional Investors Weigh In On Qorvo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Qorvo by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after purchasing an additional 100,058 shares in the last quarter. State Street Corp boosted its stake in shares of Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after buying an additional 175,031 shares during the last quarter. Norges Bank bought a new position in shares of Qorvo in the 2nd quarter worth about $153,994,000. Dimensional Fund Advisors LP grew its position in Qorvo by 16.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,727,103 shares of the semiconductor company’s stock worth $157,298,000 after purchasing an additional 243,147 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Qorvo by 10.0% during the 3rd quarter. LSV Asset Management now owns 1,520,856 shares of the semiconductor company’s stock valued at $138,520,000 after purchasing an additional 137,886 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on QRVO shares. Cfra Research upgraded shares of Qorvo to a “hold” rating in a research report on Tuesday, October 28th. KeyCorp reiterated a “sector weight” rating on shares of Qorvo in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Qorvo from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $92.00 to $105.00 in a report on Tuesday, November 4th. Stifel Nicolaus reduced their price target on shares of Qorvo from $88.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Citigroup dropped 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. Two analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $93.56.

Read Our Latest Research Report on QRVO

About Qorvo

(Get Free Report)

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.

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