Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $102.88

Qorvo, Inc. (NASDAQ:QRVO) has been given a consensus rating of “Hold” by the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $102.88.

A number of equities analysts have recently issued reports on QRVO shares. Barclays dropped their target price on Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Susquehanna cut their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $130.00 to $120.00 in a report on Friday, October 11th. Needham & Company LLC initiated coverage on shares of Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price target for the company. Finally, Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 107 shares during the period. American Trust boosted its position in shares of Qorvo by 5.8% in the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 115 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after purchasing an additional 140 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Qorvo by 1.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,526 shares of the semiconductor company’s stock valued at $1,105,000 after purchasing an additional 150 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Trading Down 0.1 %

Shares of Qorvo stock opened at $71.50 on Wednesday. Qorvo has a 52-week low of $64.54 and a 52-week high of $130.99. The firm has a market capitalization of $6.76 billion, a PE ratio of -48.97, a price-to-earnings-growth ratio of 5.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The company’s fifty day moving average price is $75.79 and its two-hundred day moving average price is $98.68.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.99 earnings per share. On average, analysts expect that Qorvo will post 3.37 EPS for the current year.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.