Significant grade drop as a transfer. Could I lose the opportunity for a full time offer?

I transferred to a target school (McIntire - UVA). I had a 3.83 coming in, and there have been warnings that transfer student's grades drop to 3.0's in the first semester. I am going to work as hard as I can, but I am fearful about my Big Four internship next summer.

I want a full time offer after the internship, and while I am working as hard as I can, I don't want to have to explain grades.

If my cumulative GPA ended up as a 3.2, I feel like that would sound awful, regardless of the fact that the combined GPAs would be a 3.5.

Simply put: What grades do you think would be acceptable? Target school or not, dropping by .6 sounds bad.

What is everyone else's opinion?

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