Qorvo (NASDAQ:QRVO) had its target price hoisted by Barclays from $75.00 to $87.00 in a research note issued to investors on Thursday. The firm currently has an “equal weight” rating on the semiconductor company’s stock. Barclays’ target price indicates a potential upside of 4.39% from the stock’s previous close.
QRVO has been the subject of a number of other reports. Drexel Hamilton restated a “buy” rating and issued a $95.00 price objective on shares of Qorvo in a research report on Thursday, November 2nd. Morgan Stanley raised their price objective on shares of Qorvo from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 13th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of Qorvo in a research report on Thursday, November 2nd. Craig Hallum lowered shares of Qorvo from a “buy” rating to a “hold” rating and cut their price objective for the company from $78.00 to $71.00 in a research report on Thursday, November 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $81.00 price objective (down from $87.00) on shares of Qorvo in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.60.
Qorvo (NASDAQ:QRVO) traded up $11.57 on Thursday, hitting $83.34. 10,690,901 shares of the stock traded hands, compared to its average volume of 2,466,087. The stock has a market capitalization of $10,400.00 and a P/E ratio of -595.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71. Qorvo has a 52-week low of $61.12 and a 52-week high of $85.24.
In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $71.37, for a total transaction of $428,220.00. Following the transaction, the vice president now directly owns 82,725 shares of the company’s stock, valued at $5,904,083.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James L. Klein sold 2,600 shares of Qorvo stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $77.58, for a total transaction of $201,708.00. Following the transaction, the vice president now directly owns 42,993 shares in the company, valued at $3,335,396.94. The disclosure for this sale can be found here. Insiders have sold 53,096 shares of company stock worth $3,968,257 over the last three months. Insiders own 0.91% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Boston Partners raised its stake in shares of Qorvo by 47.5% during the fourth quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock worth $191,089,000 after acquiring an additional 924,017 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Qorvo by 24.8% during the fourth quarter. Mutual of America Capital Management LLC now owns 17,445 shares of the semiconductor company’s stock worth $1,162,000 after acquiring an additional 3,466 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Qorvo during the fourth quarter worth approximately $413,000. Commerzbank Aktiengesellschaft FI increased its stake in shares of Qorvo by 54.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 24,421 shares of the semiconductor company’s stock worth $1,626,000 after buying an additional 8,570 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Qorvo by 12.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 18,908 shares of the semiconductor company’s stock worth $1,260,000 after buying an additional 2,151 shares during the period. 96.49% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This story was first posted by American Banking and Market News and is the sole property of of American Banking and Market News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/02/01/barclays-raises-qorvo-qrvo-price-target-to-87-00.html.
About Qorvo
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
