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

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $91.21.

Several equities analysts have issued reports on the stock. Mizuho upped their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $110.00 in a research report on Monday, January 27th. Stifel Nicolaus set a $75.00 target price on shares of Qorvo in a report on Monday, April 28th. Loop Capital cut their price target on Qorvo from $90.00 to $75.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Finally, Barclays upped their price objective on Qorvo from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $79.64 on Friday. The business has a fifty day moving average price of $67.06 and a 200-day moving average price of $71.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The company has a market capitalization of $7.44 billion, a PE ratio of 284.43, a PEG ratio of 15.57 and a beta of 1.38. Qorvo has a 1-year low of $49.46 and a 1-year high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 0.71% and a return on equity of 12.41%. The business had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. During the same period last year, the business earned $1.39 EPS. Qorvo’s revenue was down 7.6% compared to the same quarter last year. As a group, equities analysts expect that Qorvo will post 4.09 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In related news, Director John R. Harding sold 1,450 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director now directly owns 7,597 shares in the company, valued at approximately $532,473.73. This represents a 16.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its position in Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock valued at $251,577,000 after acquiring an additional 1,816,811 shares during the last quarter. FIL Ltd lifted its stake in Qorvo by 5.3% in the fourth quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock worth $232,464,000 after acquiring an additional 166,461 shares during the period. Vulcan Value Partners LLC raised its holdings in shares of Qorvo by 53.7% in the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock valued at $180,487,000 after purchasing an additional 902,353 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Qorvo during the first quarter worth $168,980,000. Finally, Amundi boosted its position in Qorvo by 84.4% during the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock valued at $156,673,000 after purchasing an additional 981,519 shares in the last quarter. Hedge funds and other 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.