Qorvo, Inc. (NASDAQ:QRVO)‘s stock had its “sector perform” rating restated by stock analysts at KeyCorp in a report issued on Thursday.

Other research analysts have also recently issued reports about the company. MKM Partners reissued a “buy” rating and set a $90.00 price target (up from $78.00) on shares of Qorvo in a research report on Tuesday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $86.00 price target on shares of Qorvo in a research report on Friday, May 26th. Canaccord Genuity increased their price target on Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Drexel Hamilton reissued a “buy” rating and set a $95.00 price target on shares of Qorvo in a research report on Tuesday, August 1st. Finally, BidaskClub lowered Qorvo from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 16th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $73.45.

Shares of Qorvo (NASDAQ:QRVO) traded up 1.38% on Thursday, reaching $74.02. The company’s stock had a trading volume of 319,856 shares. The firm’s market cap is $9.42 billion. Qorvo has a 1-year low of $19.18 and a 1-year high of $74.69. The company’s 50 day moving average is $46.06 and its 200-day moving average is $57.57.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The firm had revenue of $640.80 million during the quarter, compared to analysts’ expectations of $632.18 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Equities research analysts expect that Qorvo will post $5.54 EPS for the current year.

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In other Qorvo news, insider Robert A. Bruggeworth sold 27,839 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $65.03, for a total transaction of $1,810,370.17. Following the transaction, the insider now owns 217,042 shares in the company, valued at approximately $14,114,241.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James L. Klein sold 2,600 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $63.49, for a total value of $165,074.00. Following the transaction, the vice president now owns 40,058 shares in the company, valued at approximately $2,543,282.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,919 shares of company stock worth $5,379,553. 0.91% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of QRVO. BlackRock Inc. increased its stake in Qorvo by 3,264.5% during the 1st quarter. BlackRock Inc. now owns 8,737,400 shares of the semiconductor company’s stock worth $599,038,000 after acquiring an additional 8,477,705 shares during the period. Baupost Group LLC MA bought a new position in Qorvo during the 1st quarter worth $492,639,000. Boston Partners increased its stake in Qorvo by 91.1% during the 3rd quarter. Boston Partners now owns 4,891,156 shares of the semiconductor company’s stock worth $272,633,000 after acquiring an additional 2,331,945 shares during the period. Manning & Napier Advisors LLC bought a new position in Qorvo during the 2nd quarter worth $101,456,000. Finally, Norges Bank bought a new position in Qorvo during the 4th quarter worth $56,698,000. Hedge funds and other institutional investors own 94.39% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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