Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the twenty-eight research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $73.39.

Several equities research analysts have recently commented on the stock. Mizuho restated a “hold” rating and issued a $70.00 target price on shares of Qorvo in a research note on Monday. Cowen and Company restated a “hold” rating and issued a $85.00 target price on shares of Qorvo in a research note on Sunday, September 17th. Needham & Company LLC restated a “buy” rating and issued a $86.00 target price on shares of Qorvo in a research note on Sunday, September 17th. Craig Hallum restated a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Finally, KeyCorp restated a “sector perform” rating on shares of Qorvo in a research note on Thursday, September 14th.

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Shares of Qorvo (NASDAQ QRVO) opened at 71.84 on Wednesday. The firm’s market cap is $9.14 billion. The company has a 50 day moving average of $71.86 and a 200-day moving average of $70.62. Qorvo has a 12-month low of $48.28 and a 12-month high of $79.34.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm had revenue of $640.80 million for the quarter, compared to the consensus estimate of $632.18 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. Equities research analysts forecast that Qorvo will post $5.53 EPS for the current fiscal year.

In other Qorvo news, Director John R. Harding sold 3,260 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $71.79, for a total transaction of $234,035.40. Following the completion of the sale, the director now directly owns 6,322 shares of the company’s stock, valued at approximately $453,856.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James L. Klein sold 1,500 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $67.67, for a total value of $101,505.00. Following the sale, the vice president now directly owns 41,893 shares of the company’s stock, valued at $2,834,899.31. The disclosure for this sale can be found here. Insiders have sold a total of 62,080 shares of company stock valued at $4,395,363 over the last three months. Company insiders own 0.91% of the company’s stock.

Large investors have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Qorvo by 16.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock worth $27,452,000 after purchasing an additional 59,712 shares during the last quarter. Baupost Group LLC MA bought a new stake in Qorvo during the 1st quarter worth about $492,639,000. American Century Companies Inc. bought a new stake in Qorvo during the 2nd quarter worth about $814,000. CHURCHILL MANAGEMENT Corp raised its holdings in Qorvo by 25.7% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 37,420 shares of the semiconductor company’s stock worth $2,369,000 after purchasing an additional 7,661 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Qorvo by 24.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,415 shares of the semiconductor company’s stock worth $508,000 after purchasing an additional 1,438 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

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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