Qorvo, Inc. (QRVO) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Qorvo, Inc. (NASDAQ:QRVO) have received an average recommendation of “Hold” from the twenty-eight analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $76.11.
Several brokerages have recently weighed in on QRVO. BidaskClub raised Qorvo from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Drexel Hamilton reissued a “buy” rating and set a $95.00 target price on shares of Qorvo in a research report on Thursday. Craig Hallum lowered Qorvo from a “buy” rating to a “hold” rating and cut their target price for the stock from $78.00 to $71.00 in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of Qorvo in a research report on Thursday. Finally, KeyCorp reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, October 11th.
In related news, Director Jeffery R. Gardner sold 1,700 shares of Qorvo stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $71.95, for a total value of $122,315.00. Following the sale, the director now directly owns 33,046 shares in the company, valued at $2,377,659.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James L. Klein sold 1,500 shares of Qorvo stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $67.67, for a total value of $101,505.00. Following the completion of the sale, the vice president now owns 41,893 shares in the company, valued at $2,834,899.31. The disclosure for this sale can be found here. Insiders sold a total of 67,080 shares of company stock worth $4,788,693 over the last quarter. Company insiders own 0.91% of the company’s stock.
Several institutional investors have recently bought and sold shares of QRVO. Manning & Napier Advisors LLC purchased a new stake in shares of Qorvo in the second quarter valued at approximately $101,456,000. Vanguard Group Inc. boosted its stake in shares of Qorvo by 3.6% in the second quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock valued at $794,638,000 after buying an additional 430,596 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Qorvo in the second quarter valued at approximately $18,990,000. First Trust Advisors LP boosted its stake in shares of Qorvo by 62.2% in the second quarter. First Trust Advisors LP now owns 408,510 shares of the semiconductor company’s stock valued at $25,867,000 after buying an additional 156,646 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Qorvo in the second quarter valued at approximately $9,390,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.
Shares of Qorvo (QRVO) opened at $73.84 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $9,397.47, a price-to-earnings ratio of 18.46, a PEG ratio of 1.19 and a beta of 1.03.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The business had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. During the same quarter last year, the company earned $1.29 EPS. The business’s quarterly revenue was down 5.0% on a year-over-year basis. research analysts anticipate that Qorvo will post 4.77 earnings per share for the current year.
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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).
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