Qorvo (NASDAQ:QRVO) Price Target Cut to $90.00 by Analysts at Stifel Nicolaus

Qorvo (NASDAQ:QRVO) had its price objective lowered by Stifel Nicolaus from $95.00 to $90.00 in a research note released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group lowered their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Qorvo in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Qorvo has a consensus rating of “Hold” and an average target price of $95.84.

Qorvo Stock Performance

QRVO stock opened at $86.03 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo has a 52-week low of $64.54 and a 52-week high of $130.99. The company’s 50 day simple moving average is $73.41 and its 200-day simple moving average is $91.84.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. Qorvo’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 earnings per share. On average, equities research analysts anticipate that Qorvo will post 3.37 EPS for the current fiscal year.

Insider Activity

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Qorvo

A number of hedge funds and other institutional investors have recently modified their holdings of QRVO. Larson Financial Group LLC increased its stake in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Qorvo in the third quarter valued at about $41,000. Versant Capital Management Inc increased its position in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 286 shares during the period. Farther Finance Advisors LLC raised its holdings in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its position in Qorvo by 2,621.4% during the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 734 shares during the period. Institutional investors and hedge funds 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.