10 Most Oversold Semiconductor Stocks in 2024

4. Qorvo Inc. (NASDAQ:QRVO)

Share price return in 2024: -36%

Number of Hedge Fund Holders: 37

Qorvo Inc. (NASDAQ:QRVO) focuses on the development and commercialization of technologies and products for wireless, wired, and power markets. The company’s primary offerings include radio frequency (RF) products, analog mixed-signal solutions, power management solutions, connectivity, and sensor solutions.

In 2024, Qorvo Inc. (NASDAQ:QRVO) faced weaker growth due to customer inventory corrections, leading to 36% correction through the year. Although there has been some improvement in inventory levels in recent quarters, demand in various end markets has not fully recovered, which, along with macroeconomic headwinds, has affected revenues. The share price experienced significant corrections following nearly every quarterly result announced by the company in 2024. The latest results, released on January 28, showed some improvement in revenue and profitability trends. However, most analysts continue to maintain a cautious view on Qorvo Inc. (NASDAQ:QRVO). Analysts from Mizuho, Barclays, and KeyBanc recently reiterated their Neutral/Hold ratings after the quarterly results. The stock is up 13% YTD in 2025.