Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given an average recommendation of “Hold” by the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seventeen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $96.6250.

QRVO has been the topic of several research reports. KeyCorp reissued a “sector weight” rating on shares of Qorvo in a research note on Wednesday, January 28th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. TD Cowen reduced their price target on shares of Qorvo from $95.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Finally, UBS Group raised their price objective on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th.

Qorvo Stock Up 1.7%

Shares of NASDAQ QRVO opened at $108.23 on Wednesday. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 1.66 and a beta of 1.42. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. Qorvo has a 52-week low of $74.03 and a 52-week high of $109.03. The business’s 50 day moving average is $85.58 and its two-hundred day moving average is $84.24.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The business had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. During the same period last year, the business posted $1.42 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts predict that Qorvo will post 5.87 EPS for the current year.

Insider Buying and Selling

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president owned 71,038 shares of the company’s stock, valued at $7,103,800. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the transaction, the vice president owned 24,429 shares of the company’s stock, valued at approximately $2,442,900. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,170 shares of company stock worth $812,220. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qorvo

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Qorvo by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,105,104 shares of the semiconductor company’s stock valued at $1,011,453,000 after purchasing an additional 100,058 shares in the last quarter. State Street Corp grew its position in shares of Qorvo by 5.0% during the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock worth $314,516,000 after buying an additional 175,031 shares in the last quarter. FIL Ltd grew its position in shares of Qorvo by 13.2% during the fourth quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company’s stock worth $305,085,000 after buying an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Qorvo by 16.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company’s stock worth $168,842,000 after buying an additional 311,645 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Qorvo by 801.4% during the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after buying an additional 1,571,303 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.