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

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given an average recommendation of “Hold” by the twenty analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $97.0667.

A number of analysts have recently issued reports on QRVO shares. Zacks Research lowered Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Citigroup lifted their price target on Qorvo from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. UBS Group increased their price objective on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Mizuho restated an “underperform” rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th.

Insiders Place Their Bets

In other news, SVP Paul J. Fego sold 2,500 shares of the 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 sale, the senior vice president directly owned 71,038 shares of the company’s stock, valued at $7,103,800. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter A. Feld sold 1,900,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 5,611,526 shares of the company’s stock, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,966,127 shares of company stock worth $198,911,103 over the last quarter. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Qorvo

A number of institutional investors have recently modified their holdings of QRVO. State Street Corp grew its holdings in shares of Qorvo by 5.0% during the 2nd quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company’s stock valued at $314,516,000 after acquiring an additional 175,031 shares in the last quarter. FIL Ltd raised its holdings 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 acquiring an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 311,645 shares in the last quarter. Bank of America Corp DE raised its holdings 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 acquiring an additional 1,571,303 shares in the last quarter. Finally, LSV Asset Management boosted its position in Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Up 1.1%

Shares of NASDAQ:QRVO opened at $83.44 on Thursday. The firm has a 50 day simple moving average of $95.28 and a 200 day simple moving average of $86.53. Qorvo has a 52 week low of $74.92 and a 52 week high of $109.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company has a market cap of $7.36 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44.

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

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.