Qorvo, Inc. (NASDAQ:QRVO) Receives Consensus Rating of “Hold” from Analysts

Qorvo, Inc. (NASDAQ:QRVO – Get Rating) has been assigned a consensus rating of “Hold” from the twenty-four brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $156.33.

A number of research firms have weighed in on QRVO. Barclays reduced their price objective on Qorvo from $200.00 to $145.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Susquehanna Bancshares cut their price target on Qorvo from $150.00 to $120.00 in a research note on Thursday, May 5th. Cowen cut their price target on Qorvo from $230.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, February 3rd. Mizuho cut their price target on Qorvo from $135.00 to $128.00 in a research note on Thursday, May 5th. Finally, Wells Fargo & Company cut their price target on Qorvo from $185.00 to $175.00 in a research note on Thursday, May 5th.

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

Institutional investors have recently bought and sold shares of the company. Standard Family Office LLC purchased a new stake in shares of Qorvo during the fourth quarter worth $25,000. Johnson Financial Group Inc. purchased a new stake in shares of Qorvo during the fourth quarter worth $26,000. Bellevue Asset Management LLC purchased a new stake in shares of Qorvo during the first quarter worth $25,000. KB Financial Partners LLC purchased a new stake in shares of Qorvo during the fourth quarter worth $38,000. Finally, Clearstead Advisors LLC increased 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 buying an additional 100 shares during the last quarter. 85.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of QRVO opened at $101.16 on Friday. The stock has a 50-day moving average of $119.57 and a two-hundred day moving average of $138.41. Qorvo has a one year low of $98.23 and a one year 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. The stock has a market cap of $10.97 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.89 and a beta of 1.34.

Qorvo (NASDAQ:QRVO – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.41. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Qorvo had a return on equity of 28.07% and a net margin of 22.24%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $2.59 EPS. Analysts predict that Qorvo will post 11.7 EPS for the current fiscal year.

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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