Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Recommendation of “Hold” by Brokerages

Qorvo, Inc. (NASDAQ:QRVO) has been given an average rating of “Hold” by the eighteen research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $111.53.

QRVO has been the topic of a number of analyst reports. Raymond James raised their price target on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised their price target on Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research note on Thursday, February 1st. Rosenblatt Securities raised their price target on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Barclays raised their price target on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of Qorvo in a research note on Thursday, February 1st.

Qorvo Stock Up 2.1 %

Shares of NASDAQ QRVO opened at $115.81 on Friday. The stock has a market cap of $11.18 billion, a P/E ratio of -53.87, a PEG ratio of 0.88 and a beta of 1.56. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. Qorvo has a 12-month low of $80.62 and a 12-month high of $121.65. The business’s fifty day simple moving average is $113.74 and its 200-day simple moving average is $103.88.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.47. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. As a group, equities analysts predict that Qorvo will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock valued at $745,434 over the last quarter. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its position in shares of Qorvo by 106.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 116 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in Qorvo in the 4th quarter valued at $34,000. Zions Bancorporation N.A. raised its holdings in Qorvo by 3,833.3% in the 1st quarter. Zions Bancorporation N.A. now owns 472 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 460 shares during the last quarter. RVW Wealth LLC acquired a new position in Qorvo in the 3rd quarter valued at $53,000. Finally, Huntington National Bank raised its holdings in Qorvo by 8,090.0% in the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 809 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.