Qorvo, Inc. (NASDAQ:QRVO) Receives $97.07 Average Target Price from Analysts

Qorvo, Inc. (NASDAQ:QRVO) has been assigned a consensus rating of “Hold” from the twenty analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $97.0667.

QRVO has been the subject of several research reports. Mizuho reissued an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $95.00 to $100.00 in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th. Craig Hallum reiterated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th.

Insider Buying and Selling at Qorvo

In other news, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares in the company, valued at $7,103,800. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer directly owned 319,880 shares of the company’s stock, valued at approximately $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,966,127 shares of company stock worth $198,911,103 over the last quarter. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Qorvo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in Qorvo by 801.4% during the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the last quarter. AQR Arbitrage LLC bought a new stake in shares of Qorvo in the 4th quarter valued at about $118,204,000. Norges Bank bought a new stake in shares of Qorvo in the 4th quarter valued at about $92,430,000. Assenagon Asset Management S.A. raised its position in shares of Qorvo by 435.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,183,896 shares of the semiconductor company’s stock valued at $110,422,000 after acquiring an additional 962,593 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Qorvo by 16,066.5% in the 3rd quarter. Marshall Wace LLP now owns 814,630 shares of the semiconductor company’s stock valued at $74,197,000 after acquiring an additional 809,591 shares during the period. Institutional investors own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of QRVO stock opened at $85.50 on Thursday. Qorvo has a 1 year low of $74.92 and a 1 year high of $109.49. The firm’s 50 day moving average is $95.07 and its 200-day moving average is $86.50. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.34 and a beta of 1.44. The company has a current ratio of 3.24, a quick ratio of 2.46 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. During the same quarter last year, the business posted $1.42 earnings per share. Qorvo’s revenue for the quarter was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Sell-side analysts forecast that Qorvo will post 5.83 EPS for the current fiscal year.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.