Qorvo (NASDAQ:QRVO) Updates FY 2027 Earnings Guidance

Qorvo (NASDAQ:QRVO) issued an update on its FY 2027 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 7.000-7.000 for the period, compared to the consensus earnings per share estimate of 6.690. The company issued revenue guidance of -.

Qorvo Price Performance

Qorvo stock traded down $0.47 during mid-day trading on Thursday, reaching $89.03. The company had a trading volume of 171,319 shares, compared to its average volume of 1,285,557. The stock’s 50-day simple moving average is $94.34 and its 200-day simple moving average is $86.71. Qorvo has a 1 year low of $74.92 and a 1 year high of $109.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The company has a market capitalization of $7.85 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.44 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.53. Qorvo had a return on equity of 17.17% and a net margin of 10.95%.The company had revenue of $784.79 million for the quarter, compared to analyst estimates of $743.28 million. Qorvo’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities analysts predict that Qorvo will post 5.83 EPS for the current year.

Analysts Set New Price Targets

QRVO has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. TD Cowen reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday. Mizuho reaffirmed an “underperform” rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and a consensus target price of $94.00.

Insider Activity at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the sale, the vice president owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,966,127 shares of company stock valued at $198,911,103 over the last ninety days. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Qorvo

Several hedge funds have recently modified their holdings of QRVO. State Street Corp raised its position in Qorvo by 5.0% in 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. FIL Ltd lifted its position in shares of Qorvo by 13.2% during the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock worth $305,085,000 after buying an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Qorvo by 8.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,834 shares of the semiconductor company’s stock worth $158,027,000 after buying an additional 142,731 shares during the last quarter. Bank of America Corp DE grew its position in Qorvo by 20.2% during the second quarter. Bank of America Corp DE now owns 1,518,964 shares of the semiconductor company’s stock valued at $128,975,000 after buying an additional 255,068 shares during the period. Finally, AQR Arbitrage LLC purchased a new stake in shares of Qorvo during the 4th quarter worth approximately $118,204,000. 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.