Qorvo, Inc. (NASDAQ:QRVO) Receives $110.83 Consensus Price Target from Analysts

Qorvo, Inc. (NASDAQ:QRVO) has been given a consensus rating of “Hold” by the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $110.83.

A number of research analysts have issued reports on the company. Barclays reduced their price objective on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Mizuho cut their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Qorvo in a report on Wednesday, June 12th. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group dropped their price target on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd.

Insider Transactions at Qorvo

In related news, Director John R. Harding sold 941 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the sale, the director now directly owns 6,950 shares of the company’s stock, valued at $676,652. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Qorvo news, SVP Paul J. Fego sold 2,132 shares of Qorvo stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the transaction, the senior vice president now owns 25,201 shares in the company, valued at $2,502,711.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Harding sold 941 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now owns 6,950 shares of the company’s stock, valued at $676,652. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,372 shares of company stock valued at $4,517,858. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Park Place Capital Corp grew its holdings in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 115 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Qorvo in the 1st quarter worth $40,000. Fidelis Capital Partners LLC purchased a new position in shares of Qorvo in the first quarter worth $58,000. Finally, GAMMA Investing LLC bought a new position in shares of Qorvo during the fourth quarter valued at $104,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $118.90 on Wednesday. The firm has a market capitalization of $11.37 billion, a P/E ratio of -162.88, a P/E/G ratio of 1.12 and a beta of 1.46. Qorvo has a 1-year low of $80.62 and a 1-year high of $121.65. The firm’s 50-day moving average price is $105.10 and its 200-day moving average price is $108.75. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $927.24 million. During the same quarter last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. Equities research analysts anticipate that Qorvo will post 5.16 earnings per share for the current fiscal year.

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.