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 report released on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group lowered their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. BNP Paribas lowered shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Wednesday, October 30th. Loop Capital assumed coverage on shares of Qorvo in a report on Monday, November 11th. They issued a “hold” rating and a $73.00 price target on the stock. TD Cowen cut their target price on Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, Susquehanna cut their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $95.84.

Qorvo Stock Up 0.3 %

NASDAQ:QRVO opened at $86.03 on Wednesday. Qorvo has a 12-month low of $64.54 and a 12-month high of $130.99. 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 company’s 50-day moving average is $73.41 and its two-hundred day moving average is $91.84.

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

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Several large investors have recently added to or reduced their stakes in the stock. GDS Wealth Management acquired a new stake in Qorvo in the third quarter worth about $2,171,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after acquiring an additional 236,590 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Qorvo during the third quarter worth approximately $2,507,000. Quest Partners LLC lifted its position in Qorvo by 504.6% in the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after purchasing an additional 9,678 shares during the period. Finally, Virtu Financial LLC bought a new position in Qorvo during the 3rd quarter valued at $1,211,000. 88.57% of the stock is 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.