Raymond James Trims Qorvo (NASDAQ:QRVO) Target Price to $155.00

Qorvo (NASDAQ:QRVOGet Rating) had its price target lowered by research analysts at Raymond James from $180.00 to $155.00 in a note issued to investors on Thursday, The Fly reports. Raymond James’ price target points to a potential upside of 29.88% from the stock’s previous close.

A number of other brokerages also recently issued reports on QRVO. Zacks Investment Research downgraded Qorvo from a “hold” rating to a “sell” rating and set a $135.00 price target for the company. in a report on Friday, February 4th. The Goldman Sachs Group downgraded Qorvo from a “buy” rating to a “neutral” rating and set a $138.00 price target for the company. in a report on Sunday, March 27th. Citigroup lowered their price target on Qorvo from $144.00 to $142.00 and set a “neutral” rating for the company in a report on Tuesday, March 22nd. UBS Group reduced their price objective on Qorvo from $145.00 to $135.00 in a research note on Thursday. Finally, Bank of America reduced their price objective on Qorvo from $180.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, February 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $169.67.

Shares of Qorvo stock opened at $119.34 on Thursday. Qorvo has a one year low of $108.31 and a one year high of $201.46. The company has a market cap of $12.94 billion, a PE ratio of 12.05, a P/E/G ratio of 0.99 and a beta of 1.34. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.58 and a current ratio of 3.63. The business has a 50-day simple moving average of $122.60 and a 200-day simple moving average of $140.62.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $3.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.71 by $0.41. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Qorvo had a return on equity of 27.27% and a net margin of 24.60%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 earnings per share. On average, sell-side analysts predict that Qorvo will post 11.25 earnings per share for the current fiscal year.

In other Qorvo news, VP Paul J. Fego sold 861 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $131.78, for a total value of $113,462.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in QRVO. Standard Family Office LLC acquired a new stake in Qorvo in the fourth quarter valued at $25,000. Johnson Financial Group Inc. acquired a new stake in Qorvo in the fourth quarter valued at $26,000. AdvisorNet Financial Inc grew its holdings in Qorvo by 211.3% in the first quarter. AdvisorNet Financial Inc now owns 302 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 205 shares during the last quarter. KB Financial Partners LLC acquired a new stake in Qorvo in the fourth quarter valued at $38,000. Finally, Clearstead Advisors LLC grew its holdings in Qorvo by 66.7% in the fourth quarter. Clearstead Advisors LLC now owns 250 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 85.87% of the company’s stock.

About Qorvo (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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