Qorvo, Inc. (NASDAQ:QRVO) Receives $102.88 Average Price Target from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $102.88.

Several equities analysts have recently commented on the company. Loop Capital initiated coverage on Qorvo in a research note on Monday, November 11th. They set a “hold” rating and a $73.00 target price for the company. BNP Paribas cut shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Wednesday, October 30th. Needham & Company LLC began coverage on shares of Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price objective for the company. TD Cowen dropped their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, Susquehanna reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th.

Qorvo Stock Performance

Qorvo stock opened at $69.05 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The firm’s fifty day moving average price is $87.50 and its 200 day moving average price is $102.26. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of -47.29, a price-to-earnings-growth ratio of 5.48 and a beta of 1.49. Qorvo has a 12-month low of $64.98 and a 12-month high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly 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 for 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%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.99 earnings per share. On average, research analysts forecast that Qorvo will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Trading of Qorvo

Several hedge funds have recently bought and sold shares of the company. Mather Group LLC. grew its position in Qorvo by 5.6% in 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 last quarter. Farther Finance Advisors LLC boosted its position in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the period. V Square Quantitative Management LLC grew its holdings in Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after buying an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the period. Finally, American Trust increased its position in Qorvo by 5.8% in the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 115 shares during the period. 88.57% of the stock is currently owned by institutional investors.

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.