Qorvo (QRVO) Upgraded to “Hold” by BidaskClub

Qorvo (NASDAQ:QRVO) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

QRVO has been the subject of a number of other research reports. Morgan Stanley raised their target price on Qorvo from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. JPMorgan Chase & Co. set a $88.00 target price on Qorvo and gave the company a “buy” rating in a report on Wednesday, November 15th. ValuEngine raised Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 target price on shares of Qorvo in a report on Thursday, November 2nd. Finally, Drexel Hamilton reissued a “buy” rating and issued a $95.00 target price on shares of Qorvo in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the stock. Qorvo has a consensus rating of “Hold” and an average target price of $80.42.

Shares of Qorvo (NASDAQ QRVO) opened at $77.85 on Friday. Qorvo has a fifty-two week low of $62.68 and a fifty-two week high of $85.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62. The company has a market capitalization of $9,847.56, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The company had revenue of $845.70 million during the quarter, compared to the consensus estimate of $841.09 million. During the same quarter last year, the company earned $1.35 earnings per share. Qorvo’s quarterly revenue was up 2.3% compared to the same quarter last year. equities research analysts expect that Qorvo will post 4.49 EPS for the current year.

In other news, Director Walter H. Wilkinson sold 15,925 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.02, for a total value of $1,274,318.50. Following the completion of the transaction, the director now owns 62,480 shares in the company, valued at $4,999,649.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $76.97, for a total value of $461,820.00. Following the completion of the transaction, the vice president now owns 95,725 shares of the company’s stock, valued at approximately $7,367,953.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,496 shares of company stock valued at $3,766,549. Company insiders own 0.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Norinchukin Bank The increased its position in Qorvo by 7.4% during the 4th quarter. Norinchukin Bank The now owns 10,176 shares of the semiconductor company’s stock worth $678,000 after purchasing an additional 703 shares in the last quarter. American International Group Inc. increased its position in Qorvo by 9.9% during the 4th quarter. American International Group Inc. now owns 45,705 shares of the semiconductor company’s stock worth $3,044,000 after purchasing an additional 4,126 shares in the last quarter. Wetherby Asset Management Inc. purchased a new stake in Qorvo during the 4th quarter worth about $209,000. Systematic Financial Management LP increased its position in Qorvo by 14.1% during the 4th quarter. Systematic Financial Management LP now owns 153,737 shares of the semiconductor company’s stock worth $10,239,000 after purchasing an additional 19,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Qorvo during the 4th quarter worth about $337,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

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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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