Qorvo (NASDAQ:QRVO) Hits New 1-Year Low – Should You Sell?

Qorvo, Inc. (NASDAQ:QRVO) hit a new 52-week low on Friday . The company traded as low as $70.35 and last traded at $70.40, with a volume of 368439 shares traded. The stock had previously closed at $72.06.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QRVO. Morgan Stanley lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $130.00 to $120.00 in a report on Friday, October 11th. BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Wednesday, October 30th. Rosenblatt Securities boosted 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. Benchmark lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, TD Cowen reduced their price objective on Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.75.

Qorvo Price Performance

The company has a market cap of $6.65 billion, a P/E ratio of -48.28, a P/E/G ratio of 5.84 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The firm’s fifty day moving average is $99.12 and its two-hundred day moving average is $106.21.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s revenue was down 5.2% on a year-over-year basis. As a group, analysts anticipate that Qorvo, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 689 shares of the stock in a transaction dated 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 $2,325,779.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

Several hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Qorvo in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC raised 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 worth $30,000 after purchasing an additional 115 shares during the period. Versant Capital Management Inc increased its position in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the period. New Millennium Group LLC purchased a new position in shares of Qorvo during the second quarter worth approximately $34,000. Finally, Blue Trust Inc. increased its position in shares of Qorvo by 241.6% during the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 244 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

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.