Qorvo (NASDAQ:QRVO) PT Lowered to $120.00

Qorvo (NASDAQ:QRVO) had its price objective dropped by analysts at Barclays from $125.00 to $120.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor company’s stock. Barclays‘s target price points to a potential upside of 17.84% from the company’s previous close.

A number of other research analysts have also issued reports on QRVO. JPMorgan Chase & Co. lifted their target price on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a report on Wednesday, July 31st. Susquehanna lowered their target price on Qorvo from $145.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC lifted their price target on Qorvo from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised Qorvo to a “hold” rating in a research note on Monday, September 16th. Finally, StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $122.71.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $101.83 on Thursday. The firm’s 50-day simple moving average is $106.30 and its 200 day simple moving average is $109.09. The stock has a market cap of $9.66 billion, a P/E ratio of -351.14, a P/E/G ratio of 1.24 and a beta of 1.45. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $130.99. The company has a quick ratio of 1.36, a current ratio of 1.95 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. Qorvo’s revenue was up 36.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. Equities analysts expect that Qorvo will post 4.84 EPS for the current year.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo during the 2nd quarter valued at about $29,000. Park Place Capital Corp lifted its holdings in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 280 shares during the last quarter. Finally, New Millennium Group LLC acquired a new stake in Qorvo in the 2nd quarter worth approximately $34,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.