Qorvo (NASDAQ:QRVO) Receives New Coverage from Analysts at Exane BNP Paribas

Exane BNP Paribas began coverage on shares of Qorvo (NASDAQ:QRVOGet Rating) in a research note released on Tuesday morning, The Fly reports. The firm issued a neutral rating on the semiconductor company’s stock.

QRVO has been the topic of a number of other reports. Raymond James decreased their price target on Qorvo from $155.00 to $130.00 and set an outperform rating on the stock in a research note on Thursday, August 4th. Bank of America cut shares of Qorvo from a neutral rating to an underperform rating and lowered their price target for the stock from $125.00 to $95.00 in a research note on Wednesday, June 29th. Morgan Stanley reduced their price objective on shares of Qorvo from $120.00 to $109.00 and set an equal weight rating for the company in a research note on Thursday, August 4th. The Goldman Sachs Group decreased their price objective on shares of Qorvo from $126.00 to $107.00 in a report on Friday, July 15th. Finally, Piper Sandler dropped their target price on shares of Qorvo from $135.00 to $115.00 and set an overweight rating for the company in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Qorvo has an average rating of Hold and a consensus target price of $131.13.

Qorvo Stock Performance

NASDAQ:QRVO opened at $86.22 on Tuesday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.30 and a quick ratio of 2.12. Qorvo has a 1-year low of $85.91 and a 1-year high of $183.55. The firm’s fifty day moving average price is $100.04 and its 200 day moving average price is $108.44.

Qorvo (NASDAQ:QRVOGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.05. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Qorvo had a net margin of 17.87% and a return on equity of 26.50%. On average, sell-side analysts expect that Qorvo will post 7.03 EPS for the current year.

Insider Buying and Selling at Qorvo

In other news, Director Roderick Nelson sold 4,761 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $95.26, for a total transaction of $453,532.86. Following the sale, the director now owns 5,595 shares in the company, valued at $532,979.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Roderick Nelson sold 4,761 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $95.26, for a total transaction of $453,532.86. Following the transaction, the director now directly owns 5,595 shares in the company, valued at $532,979.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frank P. Stewart sold 1,224 shares of Qorvo stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $100.27, for a total value of $122,730.48. Following the completion of the sale, the vice president now owns 4,950 shares of the company’s stock, valued at approximately $496,336.50. The disclosure for this sale can be found here. In the last three months, insiders sold 8,423 shares of company stock worth $844,882. Insiders own 0.45% of the company’s stock.

Hedge Funds Weigh In On Qorvo

Several institutional investors and hedge funds have recently bought and sold shares of QRVO. Xponance Inc. increased its holdings in shares of Qorvo by 1.3% during the 1st quarter. Xponance Inc. now owns 6,953 shares of the semiconductor company’s stock worth $863,000 after buying an additional 90 shares during the last quarter. Clearstead Advisors LLC increased its stake in Qorvo by 66.7% during the fourth quarter. Clearstead Advisors LLC now owns 250 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Cambridge Trust Co. increased its stake in Qorvo by 18.3% during the first quarter. Cambridge Trust Co. now owns 660 shares of the semiconductor company’s stock worth $82,000 after acquiring an additional 102 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Qorvo by 0.3% in the 4th quarter. Schroder Investment Management Group now owns 34,272 shares of the semiconductor company’s stock worth $5,360,000 after purchasing an additional 103 shares during the period. Finally, Resonant Capital Advisors LLC lifted its stake in shares of Qorvo by 3.3% in the 1st quarter. Resonant Capital Advisors LLC now owns 3,276 shares of the semiconductor company’s stock valued at $398,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 88.31% of the company’s stock.

Qorvo Company Profile

(Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers.

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