Schaeffer's Top Stock Picks for '25

Qorvo Stock Hits New Low After Disappointing Guidance

Cowen issued a $5 price-target cut to QRVO in response

Managing Editor
Nov 13, 2018 at 2:13 PM
facebook X logo linkedin


Qorvo Inc (NASDAQ:QRVO) is the latest Apple supplier to slash its third-quarter forecast for profit and revenue, resulting in a price-target cut to $75 from $80 at Cowen earlier today. But while QRVO earlier fell to an annual low of $61, it was last seen slightly higher at $63.75, and activity in the options pits today points to a bullish bias.  

At last check, nearly 4,200 QRVO options have changed hands-- three times what's typically seen at this point in the day, with volume pacing for the 95th percentile of its annual range. Leading the charge is the January 2019 65-strike call, where it appears new positions are being opened.

This call bias is nothing new, though, despite limited absolute volume. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows 1,115 calls were bought to open in the last 10 days, compared to just 671 puts. 

On the charts, it's been an ugly channel of lower lows and highs for QRVO since it briefly crossed the $86 level back in early August. The stock is heading towards four straight monthly losses, currently sporting a 13.1% decline for November. 

Daily Stock Chart QRVO

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?