Qorvo, Inc. (NASDAQ:QRVO) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a report issued on Thursday, The Fly reports.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $86.00 price objective on shares of Qorvo in a report on Sunday, September 17th. Craig Hallum reiterated a “buy” rating on shares of Qorvo in a report on Wednesday, September 13th. Canaccord Genuity upped their price objective on shares of Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Drexel Hamilton reiterated a “buy” rating and set a $95.00 price objective on shares of Qorvo in a report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. Qorvo currently has a consensus rating of “Hold” and an average target price of $73.10.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, meeting the consensus estimate of $1.52. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The firm had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter in the prior year, the business earned $1.29 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year.

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In other news, insider Robert A. Bruggeworth sold 6,769 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.34, for a total transaction of $482,900.46. Following the completion of the transaction, the insider now directly owns 219,719 shares of the company’s stock, valued at approximately $15,674,753.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Gina Harrison sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total transaction of $367,050.00. Following the transaction, the vice president now directly owns 17,230 shares of the company’s stock, valued at $1,264,854.30. The disclosure for this sale can be found here. Insiders have sold a total of 67,080 shares of company stock valued at $4,788,693 over the last three months. Insiders own 0.91% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc grew its position in shares of Qorvo by 2.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 49 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Qorvo by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock worth $598,000 after buying an additional 62 shares during the period. Federated Investors Inc. PA boosted its holdings in Qorvo by 4.0% in the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after buying an additional 90 shares during the period. Sentry Investment Management LLC boosted its holdings in Qorvo by 1.4% in the 2nd quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock worth $421,000 after buying an additional 95 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Qorvo by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $500,000 after buying an additional 100 shares during the period. 94.12% of the stock is owned by hedge funds and other institutional investors.

About Qorvo

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).

The Fly

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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