Qorvo (NASDAQ:QRVO) Price Target Cut to $180.00 by Analysts at Craig Hallum

Qorvo (NASDAQ:QRVOGet Rating) had its target price decreased by equities research analysts at Craig Hallum from $225.00 to $180.00 in a research report issued on Thursday, The Fly reports. Craig Hallum’s target price would indicate a potential upside of 68.04% from the company’s previous close.

Several other research analysts also recently commented on QRVO. Barclays dropped their target price on shares of Qorvo from $200.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $185.00 to $150.00 in a report on Thursday, March 3rd. BMO Capital Markets dropped their price objective on shares of Qorvo from $185.00 to $160.00 and set a “market perform” rating on the stock in a report on Thursday, February 3rd. Oppenheimer downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, January 13th. Finally, Susquehanna Bancshares dropped their price objective on shares of Qorvo from $150.00 to $120.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $162.09.

QRVO stock opened at $107.12 on Thursday. The company has a current ratio of 3.63, a quick ratio of 2.58 and a debt-to-equity ratio of 0.44. Qorvo has a 1 year low of $104.37 and a 1 year high of $201.46. The company has a fifty day simple moving average of $121.43 and a 200 day simple moving average of $139.79. The firm has a market cap of $11.62 billion, a PE ratio of 11.58, a PEG ratio of 0.99 and a beta of 1.34.

Qorvo (NASDAQ:QRVOGet Rating) last announced its earnings results on Wednesday, May 4th. The semiconductor company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.71 by $0.41. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Qorvo had a net margin of 24.60% and a return on equity of 27.27%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.59 EPS. As a group, analysts forecast that Qorvo will post 12.09 EPS for the current fiscal year.

In other Qorvo news, VP Paul J. Fego sold 861 shares of the business’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $131.78, for a total value of $113,462.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in QRVO. Standard Family Office LLC acquired a new position in shares of Qorvo during the fourth quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new position in shares of Qorvo during the fourth quarter worth approximately $26,000. IndexIQ Advisors LLC acquired a new position in shares of Qorvo during the first quarter worth approximately $32,000. AdvisorNet Financial Inc lifted its position in shares of Qorvo by 211.3% during the first quarter. AdvisorNet Financial Inc now owns 302 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 205 shares in the last quarter. Finally, KB Financial Partners LLC acquired a new position in shares of Qorvo during the fourth quarter worth approximately $38,000. 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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