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

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

A number of brokerages recently issued reports on QRVO. JPMorgan Chase & Co. lifted their price objective on shares of Qorvo from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. UBS Group lifted 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. Wolfe Research cut shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. Craig Hallum reissued a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research note on Monday, April 27th.

Qorvo Stock Performance

Shares of NASDAQ:QRVO opened at $98.42 on Friday. The company’s 50 day simple moving average is $93.40 and its 200 day simple moving average is $86.21. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. Qorvo has a 1 year low of $74.92 and a 1 year high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, research analysts predict that Qorvo will post 5.84 EPS for the current fiscal year.

Insider Activity at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the senior vice president owned 71,038 shares of the company’s stock, valued at approximately $7,103,800. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of Qorvo stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the transaction, the director owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. This trade represents a 25.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,966,127 shares of company stock worth $198,911,103. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Qorvo

A number of hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in Qorvo by 286.8% in the first quarter. Pacer Advisors Inc. now owns 314,053 shares of the semiconductor company’s stock valued at $24,308,000 after buying an additional 232,851 shares during the period. E20 Capital Ltd acquired a new position in Qorvo in the first quarter valued at $21,127,000. Bank of America Corp DE lifted its holdings in Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock valued at $136,795,000 after buying an additional 1,571,303 shares during the period. Janus Henderson Group PLC lifted its holdings in Qorvo by 19.1% in the first quarter. Janus Henderson Group PLC now owns 548,859 shares of the semiconductor company’s stock valued at $42,473,000 after buying an additional 88,070 shares during the period. Finally, Amundi lifted its holdings in Qorvo by 197.2% in the first quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after buying an additional 512,475 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

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.