Qorvo (NASDAQ:QRVO) has been assigned a consensus rating of “Hold” from the twenty-nine analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $81.65.
A number of equities analysts have recently issued reports on QRVO shares. ValuEngine downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. BidaskClub downgraded Qorvo from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Morgan Stanley raised their price target on Qorvo from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Zacks Investment Research upgraded Qorvo from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $81.00 price target (down from $87.00) on shares of Qorvo in a research note on Wednesday, January 24th.
Shares of Qorvo stock traded down $1.69 on Wednesday, reaching $69.72. The company’s stock had a trading volume of 1,263,149 shares, compared to its average volume of 2,097,199. The firm has a market cap of $9,032.91, a price-to-earnings ratio of 17.21, a PEG ratio of 0.99 and a beta of 0.92. Qorvo has a 52 week low of $62.68 and a 52 week high of $86.84. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.09. The firm had revenue of $845.70 million for the quarter, compared to the consensus estimate of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. equities research analysts forecast that Qorvo will post 4.49 EPS for the current fiscal year.
In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $78.97, for a total transaction of $473,820.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel A. Dileo sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $83.97, for a total value of $209,925.00. Following the sale, the director now directly owns 27,282 shares in the company, valued at $2,290,869.54. The disclosure for this sale can be found here. Insiders have sold 21,500 shares of company stock worth $1,671,675 over the last quarter. 0.91% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of QRVO. Penserra Capital Management LLC raised its holdings in Qorvo by 45.4% during the fourth quarter. Penserra Capital Management LLC now owns 2,660 shares of the semiconductor company’s stock valued at $177,000 after acquiring an additional 831 shares during the period. Zeke Capital Advisors LLC bought a new stake in Qorvo during the third quarter valued at about $206,000. Wetherby Asset Management Inc. bought a new stake in Qorvo during the fourth quarter valued at about $209,000. Cetera Advisor Networks LLC bought a new stake in Qorvo during the third quarter valued at about $219,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in Qorvo during the third quarter valued at about $222,000. 97.55% of the stock is currently owned by institutional investors and hedge funds.
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Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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