Qorvo (NASDAQ:QRVO) PT Lowered to $105.00 at Mizuho

Qorvo (NASDAQ:QRVO) had its target price lowered by Mizuho from $115.00 to $105.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

QRVO has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company an underweight rating in a research note on Thursday, February 1st. Needham & Company LLC reaffirmed a buy rating and set a $125.00 price objective on shares of Qorvo in a research note on Thursday, February 1st. The Goldman Sachs Group raised their target price on shares of Qorvo from $104.00 to $117.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. StockNews.com downgraded shares of Qorvo from a buy rating to a hold rating in a research note on Thursday, February 8th. Finally, Raymond James boosted their price objective on shares of Qorvo from $115.00 to $120.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $110.83.

Qorvo Stock Up 0.3 %

Shares of NASDAQ QRVO opened at $95.95 on Thursday. The firm’s 50-day moving average is $113.15 and its two-hundred day moving average is $105.78. The company has a market capitalization of $9.26 billion, a PE ratio of -131.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53. Qorvo has a 12-month low of $80.62 and a 12-month high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The firm had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same quarter in the prior year, the company earned $0.11 EPS. Qorvo’s revenue was up 48.7% on a year-over-year basis. Equities analysts anticipate that Qorvo will post 6.69 EPS for the current fiscal year.

Insider Activity

In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Qorvo news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QRVO. RIA Advisory Group LLC bought a new position in shares of Qorvo during the first quarter worth about $295,000. Daiwa Securities Group Inc. raised its stake in Qorvo by 44.4% during the first quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after buying an additional 4,072 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Qorvo by 1.2% during the 1st quarter. Nordea Investment Management AB now owns 373,914 shares of the semiconductor company’s stock worth $42,974,000 after buying an additional 4,257 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Qorvo in the 1st quarter worth approximately $58,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of Qorvo by 13.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,708 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 315 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.