Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) PT at $121.00

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given an average recommendation of “Hold” by the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $121.00.

QRVO has been the subject of a number of research reports. Barclays upped their price objective on shares of Qorvo from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Raymond James lifted their price objective on shares of Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Rosenblatt Securities raised their target price on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the 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 sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Qorvo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. grew its stake in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 96 shares during the period. Quadrature Capital Ltd increased its holdings in Qorvo by 0.4% in the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock valued at $2,825,000 after buying an additional 103 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares in the last quarter. American Trust boosted its stake in shares of Qorvo by 5.8% during the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after acquiring an additional 115 shares in the last quarter. Finally, Empirical Finance LLC grew its position in shares of Qorvo by 3.2% during the 1st quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 117 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Stock Up 1.9 %

Shares of NASDAQ:QRVO opened at $107.65 on Monday. The firm has a market capitalization of $10.21 billion, a PE ratio of -147.47, a price-to-earnings-growth ratio of 1.30 and a beta of 1.46. The business has a 50 day simple moving average of $114.12 and a two-hundred day simple moving average of $110.91. Qorvo has a 1 year low of $80.62 and a 1 year high of $130.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company had revenue of $886.70 million for the quarter, compared to analysts’ expectations of $851.95 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Qorvo’s revenue was up 36.2% compared to the same quarter last year. On average, equities analysts predict that Qorvo will post 4.84 EPS for the current 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.