A number of research firms have changed their ratings and price targets for Qorvo (NASDAQ: QRVO):

  • 9/17/2017 – Qorvo had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $86.00 price target on the stock.
  • 9/17/2017 – Qorvo had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $85.00 price target on the stock.
  • 9/14/2017 – Qorvo had its “sector perform” rating reaffirmed by analysts at KeyCorp.
  • 9/13/2017 – Qorvo had its “buy” rating reaffirmed by analysts at Craig Hallum.
  • 9/6/2017 – Qorvo is now covered by analysts at Instinet. They set a “neutral” rating and a $75.00 price target on the stock.
  • 9/5/2017 – Qorvo is now covered by analysts at Nomura. They set a “neutral” rating and a $75.00 price target on the stock.
  • 9/1/2017 – Qorvo was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Qorvo has underperformed the industry on a year-to-date basis. Weakness in China and higher research & development (R&D) expense related to custom-product development for its largest customer, Apple is hurting profitability. Qorvo stated that demand environment in China is improving, which is positively impacting channel inventory. However, mix remains a drag as consumers are favoring lower content phones, witnessed so far in the cycle. Management now expects top-line to grow in the range of 4–5%, down from its previous expectation of double-digit year-over-year growth. The company cited weakness in China in the first half of the fiscal, which will be offset by double-digit year-over-year growth in the second half. Nevertheless, we believe that expanding product portfolio will help the company achieve strong revenue growth in fiscal 2018.”
  • 8/18/2017 – Qorvo was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Qorvo, Inc. (QRVO) traded down 0.13% on Wednesday, reaching $71.30. The company’s stock had a trading volume of 116,270 shares. The stock’s market cap is $9.07 billion. Qorvo, Inc. has a 12-month low of $48.28 and a 12-month high of $79.34. The company’s 50 day moving average price is $71.67 and its 200-day moving average price is $70.42.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (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 business had revenue of $640.80 million for the quarter, compared to analysts’ expectations of $632.18 million. During the same period in the prior year, the firm posted $1.08 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. On average, equities analysts expect that Qorvo, Inc. will post $5.53 EPS for the current year.

In other news, VP James L. Klein sold 2,600 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $70.84, for a total transaction of $184,184.00. Following the transaction, the vice president now directly owns 42,993 shares of the company’s stock, valued at $3,045,624.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $73.37, for a total value of $440,220.00. Following the sale, the vice president now directly owns 106,725 shares in the company, valued at $7,830,413.25. The disclosure for this sale can be found here. In the last three months, insiders sold 89,919 shares of company stock valued at $6,205,733. Corporate insiders own 0.91% of the company’s stock.

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).

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