Qorvo (NASDAQ:QRVO) Given New $100.00 Price Target at JPMorgan Chase & Co.

Qorvo (NASDAQ:QRVO) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $105.00 to $100.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.22% from the company’s current price.

A number of other brokerages have also recently weighed in on QRVO. Barclays upped their price target on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Needham & Company LLC reduced their price target on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday. Benchmark decreased their price objective on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday. Raymond James boosted their target price on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities increased their target price on Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $110.83.

Qorvo Stock Up 0.3 %

NASDAQ QRVO opened at $95.95 on Thursday. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. The stock has a market cap of $9.26 billion, a PE ratio of -131.44, a PEG ratio of 0.86 and a beta of 1.53. The firm has a 50-day simple moving average of $113.49 and a 200 day simple moving average of $105.57.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.25%. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. On average, research analysts forecast that Qorvo will post 6.69 EPS for the current year.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at $3,386,370. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,381 shares of company stock worth $745,434. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QRVO. Park Place Capital Corp raised its stake in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 207 shares during the period. Riverview Trust Co acquired a new position in shares of Qorvo during the 1st quarter worth approximately $40,000. Fidelis Capital Partners LLC acquired a new stake in Qorvo during the first quarter worth approximately $58,000. 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 in the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of Qorvo in the fourth quarter worth $104,000. Institutional investors own 88.57% of the company’s stock.

About Qorvo

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.