Qorvo (NASDAQ:QRVO) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other research analysts also recently commented on the stock. J P Morgan Chase & Co set a $88.00 price objective on shares of Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. Citigroup increased their price objective on shares of Qorvo from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Canaccord Genuity increased their price objective on shares of Qorvo from $81.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Morgan Stanley increased their price objective on shares of Qorvo from $68.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of Qorvo in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $76.74.

Shares of Qorvo (NASDAQ:QRVO) traded down $0.84 during trading on Wednesday, reaching $67.88. 2,018,438 shares of the company traded hands, compared to its average volume of 1,244,139. The company has a market cap of $8,630.81, a P/E ratio of 16.97, a P/E/G ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71. Qorvo has a one year low of $52.05 and a one year high of $81.20.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The business had revenue of $821.60 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue was down 5.0% on a year-over-year basis. analysts anticipate that Qorvo will post 4.74 earnings per share for the current fiscal year.

In related news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $73.37, for a total value of $440,220.00. Following the completion of the transaction, the vice president now owns 106,725 shares of the company’s stock, valued at approximately $7,830,413.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roderick Nelson sold 860 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $69.03, for a total transaction of $59,365.80. Following the completion of the transaction, the director now directly owns 3,762 shares of the company’s stock, valued at approximately $259,690.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,696 shares of company stock valued at $4,605,411. 0.91% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. raised its position in Qorvo by 16.0% in 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 period. American Century Companies Inc. purchased a new stake in Qorvo in the 2nd quarter worth about $814,000. Toronto Dominion Bank raised its position in Qorvo by 26.1% in the 2nd quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock worth $2,725,000 after purchasing an additional 8,911 shares during the period. Janus Henderson Group PLC raised its position in Qorvo by 424.0% in the 2nd quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock worth $4,932,000 after purchasing an additional 63,019 shares during the period. Finally, Robecosam AG raised its position in Qorvo by 17.9% in the 2nd quarter. Robecosam AG now owns 165,000 shares of the semiconductor company’s stock worth $10,608,000 after purchasing an additional 25,000 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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