Qorvo (QRVO) – Investment Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Qorvo (NASDAQ: QRVO) in the last few weeks:

  • 2/9/2018 – Qorvo was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 2/1/2018 – Qorvo was downgraded by analysts at Summit Redstone from a “hold” rating to a “sell” rating.
  • 2/1/2018 – Qorvo had its price target raised by analysts at Canaccord Genuity from $81.00 to $89.00. They now have a “buy” rating on the stock.
  • 2/1/2018 – Qorvo had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 2/1/2018 – Qorvo had its price target raised by analysts at BMO Capital Markets from $63.00 to $70.00. They now have a “market perform” rating on the stock.
  • 2/1/2018 – Qorvo had its price target raised by analysts at Morgan Stanley from $70.00 to $74.00. They now have an “equal weight” rating on the stock.
  • 2/1/2018 – Qorvo had its price target raised by analysts at Barclays PLC from $75.00 to $87.00. They now have an “equal weight” rating on the stock.
  • 2/1/2018 – Qorvo was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating. They now have a $85.00 price target on the stock, up previously from $75.00.
  • 2/1/2018 – Qorvo was upgraded by analysts at Instinet from a “neutral” rating to a “buy” rating. They now have a $75.00 price target on the stock.
  • 2/1/2018 – Qorvo had its price target raised by analysts at Needham & Company LLC from $84.00 to $88.00. They now have a “buy” rating on the stock.
  • 2/1/2018 – Qorvo had its price target raised by analysts at Cowen Inc from $78.00 to $85.00. They now have a “market perform” rating on the stock.
  • 2/1/2018 – Qorvo had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $74.00 price target on the stock, up previously from $70.00.
  • 2/1/2018 – Qorvo was upgraded by analysts at Northland Securities from a “market perform” rating to an “outperform” rating.
  • 2/1/2018 – Qorvo was upgraded by analysts at Bank of America Corp from an “underperform” rating to a “neutral” rating. They now have a $85.00 price target on the stock.
  • 1/31/2018 – Qorvo had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $95.00 price target on the stock.
  • 1/31/2018 – Qorvo was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 1/24/2018 – Qorvo had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $81.00 price target on the stock, down previously from $87.00.
  • 1/24/2018 – Qorvo was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 1/22/2018 – Qorvo was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Qorvo is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure and aerospace/defense applications. The company operates in a competitive landscape that is becoming more complex with low barriers to entry. Moreover, Qorvo’s product mix is facing a drag in both China and India as consumers are favoring mid-tier phones, which have lower dollar content. However, Shares of the company have outperformed the industry over the past one year. The company benefited from increasing dollar content across power amplifiers, switches, tuners and Wi-Fi in flagship smartphones from Huawei, Xiaomi, Vivo and others.”
  • 1/2/2018 – Qorvo was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Qorvo is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure and aerospace/defense applications. Shares of the company have outperformed the industry over the past one year. The company benefited from increasing dollar content across power amplifiers, switches, tuners and Wi-Fi in flagship smartphones from Huawei, Xiaomi, Oppo, Vivo and others. Management stated that the unit growth is primarily driven by strong demand in India. Qorvo expects India to be an almost $1-billion opportunity for RF products by 2020. However, mix remains a drag in both China and India as consumers are favoring mid-tier phones, which have lower dollar content. Management cited delayed product cycle at its largest customer to be one of the multiple reasons that will hurt Mobile Products revenues in the current quarter.”

Qorvo Inc (NASDAQ:QRVO) traded up $1.32 during trading on Monday, hitting $79.17. 1,620,000 shares of the stock were exchanged, compared to its average volume of 2,610,000. Qorvo Inc has a one year low of $62.68 and a one year high of $85.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72. The firm has a market cap of $10,010.00, a P/E ratio of 377.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company had revenue of $845.70 million during the quarter, compared to the consensus estimate of $841.09 million. During the same period in the prior year, the business posted $1.35 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. analysts expect that Qorvo Inc will post 4.49 earnings per share for the current year.

In other news, insider Robert A. Bruggeworth sold 5,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.57, for a total value of $327,850.00. Following the sale, the insider now directly owns 185,344 shares of the company’s stock, valued at approximately $12,153,006.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $76.97, for a total transaction of $461,820.00. Following the completion of the sale, the vice president now directly owns 95,725 shares in the company, valued at $7,367,953.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,496 shares of company stock valued at $3,766,549. Company insiders own 0.91% of the company’s stock.

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).

Receive News & Ratings for Qorvo Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply