Qorvo, Inc. (NASDAQ:QRVO) Receives $95.84 Consensus Target Price from Brokerages

Qorvo, Inc. (NASDAQ:QRVO) has been given a consensus rating of “Hold” by the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $95.84.

A number of brokerages recently weighed in on QRVO. TD Cowen lowered their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. UBS Group lowered their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America lowered their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Finally, Mizuho raised their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th.

Qorvo Price Performance

QRVO opened at $77.26 on Thursday. The company’s 50-day simple moving average is $75.30 and its two-hundred day simple moving average is $89.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The stock has a market capitalization of $7.22 billion, a P/E ratio of 275.93, a P/E/G ratio of 15.93 and a beta of 1.41. Qorvo has a 52-week low of $64.54 and a 52-week high of $130.99.

Insider Activity

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

Hedge Funds Weigh In On Qorvo

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Qorvo during the 3rd quarter valued at approximately $41,000. Rakuten Securities Inc. bought a new stake in shares of Qorvo during the fourth quarter valued at approximately $28,000. Farther Finance Advisors LLC lifted its holdings in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Qorvo during the fourth quarter worth $37,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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.