Qorvo Inc (NASDAQ:QRVO) has been assigned a consensus rating of “Hold” from the twenty-nine brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $81.28.
QRVO has been the topic of several analyst reports. JPMorgan Chase & Co. set a $88.00 price target on shares of Qorvo and gave the stock a “buy” rating in a report on Wednesday, November 15th. BidaskClub cut shares of Qorvo from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Zacks Investment Research cut shares of Qorvo from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Piper Jaffray Companies initiated coverage on shares of Qorvo in a report on Monday, February 26th. They set an “overweight” rating and a $90.00 price target on the stock. Finally, Barclays boosted their price target on shares of Qorvo from $75.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st.
In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $65.50, for a total value of $393,000.00. Following the transaction, the vice president now directly owns 88,725 shares in the company, valued at $5,811,487.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel A. Dileo sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $83.97, for a total transaction of $209,925.00. Following the completion of the transaction, the director now owns 27,282 shares in the company, valued at $2,290,869.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,500 shares of company stock worth $1,915,645. Corporate insiders own 0.91% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of QRVO. Penserra Capital Management LLC raised its position in shares of Qorvo by 45.4% in the fourth quarter. Penserra Capital Management LLC now owns 2,660 shares of the semiconductor company’s stock valued at $177,000 after purchasing an additional 831 shares during the period. Zeke Capital Advisors LLC bought a new stake in shares of Qorvo in the third quarter valued at approximately $206,000. Wetherby Asset Management Inc. bought a new stake in shares of Qorvo in the fourth quarter valued at approximately $209,000. Cetera Advisor Networks LLC bought a new stake in shares of Qorvo in the third quarter valued at approximately $219,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Qorvo in the third quarter valued at approximately $222,000. 97.58% of the stock is currently owned by institutional investors.
Shares of Qorvo (NASDAQ QRVO) traded down $3.22 during midday trading on Friday, hitting $79.00. 6,756,921 shares of the stock were exchanged, compared to its average volume of 2,281,308. The firm has a market capitalization of $9,990.00, a PE ratio of 81.44, a P/E/G ratio of 1.46 and a beta of 0.81. Qorvo has a 52-week low of $62.68 and a 52-week high of $86.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The business had revenue of $845.70 million for the quarter, compared to analysts’ expectations of $841.09 million. During the same period in the previous year, the company earned $1.35 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. research analysts forecast that Qorvo will post 4.49 EPS for the current year.
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Qorvo Company Profile
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).
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