Research Analysts’ Weekly Ratings Updates for Qorvo (QRVO)

Qorvo (NASDAQ: QRVO) recently received a number of ratings updates from brokerages and research firms:

  • 5/5/2022 – Qorvo had its price target lowered by analysts at Craig Hallum from $225.00 to $180.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at Susquehanna Bancshares, Inc. from $150.00 to $120.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at Raymond James from $180.00 to $155.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at Wells Fargo & Company from $185.00 to $175.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at Susquehanna from $150.00 to $120.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at UBS Group AG from $145.00 to $135.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at Mizuho from $135.00 to $128.00.
  • 5/5/2022 – Qorvo had its price target lowered by analysts at Piper Sandler from $190.00 to $135.00.
  • 4/25/2022 – Qorvo had its price target lowered by analysts at Barclays PLC from $200.00 to $145.00. They now have an “overweight” rating on the stock.
  • 4/18/2022 – Qorvo had its price target lowered by analysts at Mizuho from $155.00 to $135.00. They now have a “neutral” rating on the stock.
  • 4/13/2022 – Qorvo had its price target lowered by analysts at Wells Fargo & Company from $220.00 to $185.00. They now have an “overweight” rating on the stock.
  • 4/1/2022 – Qorvo was downgraded by analysts at KGI Securities from an “outperform” rating to a “neutral” rating. They now have a $140.00 price target on the stock.
  • 3/31/2022 – Qorvo is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/27/2022 – Qorvo was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $138.00 price target on the stock.
  • 3/22/2022 – Qorvo had its price target lowered by analysts at Citigroup Inc. from $144.00 to $142.00. They now have a “neutral” rating on the stock.

Shares of NASDAQ QRVO traded down $1.30 during trading hours on Wednesday, hitting $103.95. The stock had a trading volume of 12,070 shares, compared to its average volume of 1,400,094. The company has a market capitalization of $11.27 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.89 and a beta of 1.34. The firm’s 50-day moving average price is $120.19 and its two-hundred day moving average price is $138.68. Qorvo, Inc. has a 52 week low of $102.24 and a 52 week high of $201.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.58 and a current ratio of 3.63.

Qorvo (NASDAQ:QRVOGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $3.12 EPS for the quarter, beating the consensus estimate of $2.71 by $0.41. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Qorvo had a return on equity of 28.07% and a net margin of 22.24%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 EPS. As a group, analysts expect that Qorvo, Inc. will post 11.7 EPS for the current fiscal year.

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

A number of institutional investors have recently made changes to their positions in QRVO. Vulcan Value Partners LLC boosted its position in shares of Qorvo by 30.1% in the fourth quarter. Vulcan Value Partners LLC now owns 5,640,650 shares of the semiconductor company’s stock valued at $882,141,000 after acquiring an additional 1,304,458 shares during the period. Norges Bank bought a new stake in shares of Qorvo in the fourth quarter valued at approximately $170,362,000. Woodline Partners LP acquired a new position in shares of Qorvo in the fourth quarter valued at $150,636,000. Baupost Group LLC MA raised its stake in shares of Qorvo by 16.9% in the fourth quarter. Baupost Group LLC MA now owns 5,945,744 shares of the semiconductor company’s stock valued at $929,855,000 after purchasing an additional 861,278 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Qorvo by 20.6% in the fourth quarter. Boston Partners now owns 4,746,394 shares of the semiconductor company’s stock valued at $742,387,000 after purchasing an additional 809,212 shares in the last quarter. 85.87% of the stock is owned by hedge funds and other institutional investors.

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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