Qorvo, Inc. (NASDAQ:QRVO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO) have received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $110.83.

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. The Goldman Sachs Group decreased their target price on Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Craig Hallum lifted their price objective on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Susquehanna cut their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Finally, Raymond James lifted their price objective on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st.

Qorvo Stock Performance

Qorvo stock opened at $96.21 on Tuesday. The stock has a 50-day simple moving average of $112.80 and a 200 day simple moving average of $105.82. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. Qorvo has a 12-month low of $80.62 and a 12-month high of $121.65. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of -131.79, a P/E/G ratio of 0.90 and a beta of 1.53.

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

Insider Buying and Selling

In other Qorvo news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the business’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 value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock valued at $745,434 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QRVO. Barclays PLC grew its position in shares of Qorvo by 646.2% during the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the last quarter. FIL Ltd boosted its holdings in shares of Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after buying an additional 120,213 shares during the period. Invesco Ltd. boosted its holdings in shares of Qorvo by 18.9% in the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after buying an additional 316,328 shares during the period. Boston Partners boosted its holdings in shares of Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after purchasing an additional 6,558 shares during the period. Finally, UBS Group AG boosted its holdings in shares of Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after purchasing an additional 1,053,157 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Company Profile

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.