Qorvo Inc (QRVO) Given Average Rating of “Hold” by Analysts

Shares of Qorvo Inc (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the twenty-nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $80.42.

A number of brokerages have recently commented on QRVO. BidaskClub raised Qorvo from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st. Needham & Company LLC lifted their price target on Qorvo from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Instinet upgraded Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, February 1st. BMO Capital Markets raised their price objective on Qorvo from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. Finally, Oppenheimer restated a “hold” rating on shares of Qorvo in a research report on Thursday, February 1st.

Shares of Qorvo (QRVO) opened at $79.17 on Tuesday. Qorvo has a 12 month low of $62.68 and a 12 month high of $85.24. The company has a market capitalization of $10,010.00, a PE ratio of 377.00, a PEG ratio of 1.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72.

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

In other Qorvo news, insider Robert A. Bruggeworth sold 5,000 shares of Qorvo stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $77.03, for a total value of $385,150.00. Following the completion of the sale, the insider now directly owns 193,344 shares in the company, valued at $14,893,288.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $76.97, for a total value of $461,820.00. Following the completion of the sale, the vice president now owns 95,725 shares of the company’s stock, valued at $7,367,953.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,496 shares of company stock valued at $3,766,549. 0.91% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Princeton Capital Management LLC bought a new stake in Qorvo in the fourth quarter worth approximately $802,000. Spark Investment Management LLC bought a new stake in shares of Qorvo during the fourth quarter valued at approximately $5,121,000. Eaton Vance Management increased its holdings in shares of Qorvo by 71.2% during the fourth quarter. Eaton Vance Management now owns 29,521 shares of the semiconductor company’s stock valued at $1,966,000 after acquiring an additional 12,282 shares in the last quarter. Capital Analysts LLC increased its holdings in shares of Qorvo by 469.0% during the fourth quarter. Capital Analysts LLC now owns 5,650 shares of the semiconductor company’s stock valued at $1,073,000 after acquiring an additional 4,657 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in shares of Qorvo by 21.8% during the fourth quarter. OppenheimerFunds Inc. now owns 6,799 shares of the semiconductor company’s stock valued at $453,000 after acquiring an additional 1,215 shares in the last quarter. Institutional investors and hedge funds own 98.19% 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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