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Qorvo Trading Volume Plummets 55% Ranking 499th Despite Strong Q1 Earnings
Generated by AI AgentAinvest Market Brief
Thursday, May 1, 2025 7:34 pm ET1min read
On May 1, 2025,
(QRVO) experienced a significant decline, with its trading volume dropping by 55.01% to 1.90 billion, ranking 499th in the day's market activity. The stock price fell by 2.60%.Qorvo, a leading communications chips maker, reported its Q1 CY2025 results, exceeding market revenue expectations despite a 7.6% year-on-year decline in sales. The company's earnings per share (EPS) for the quarter were reported at $1.42, reflecting strong financial performance amidst challenging market conditions.
Benchmark has set an average one-year price target for Qorvo at $88.50 per share, with forecasts ranging from $60.60 to $134.40. This target reflects the company's potential for growth and investor confidence in its long-term prospects.
Needham maintained its Buy rating on Qorvo but reduced the price target from $100 to $90. This adjustment comes after Qorvo's recent earnings report, which, while positive, may have raised concerns about the company's future performance.
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