From Nasdaq: 2024-05-16 10:03:21

Qorvo Inc. (QRVO) is a specialized semiconductor company that focuses on developing RF solutions for various industries. Valued at $9.56 billion, the company is headquartered in North Carolina and offers products for smartphones, wireless base stations, cable TVs, and military applications.

QRVO stock has seen an 11.3% decline YTD, dropping 17.8% since reaching a 52-week high in March. Following a negative earnings reaction, the stock plummeted 14.5% after its fiscal Q4 results were released, indicating a potential buying opportunity with low valuation ratios.

Despite beating Q4 profit and revenue estimates, Qorvo stock dipped due to weak guidance for fiscal Q1, predicting lower revenue and earnings than expected by Wall Street. Analysts have mixed opinions on QRVO, with price target revisions but an overall consensus Hold rating and a mean price target of $109.65 for potential upside.



Read more at Nasdaq: Down 17% From Highs, Should You Buy This Growth Stock On Sale?