Qorvo (NASDAQ:QRVO) gapped down prior to trading on Thursday . The stock had previously closed at $74.84, but opened at $73.12. Qorvo shares last traded at $70.63, with a volume of 2774217 shares traded.
Several equities research analysts have recently weighed in on QRVO shares. BidaskClub lowered shares of Qorvo from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Zacks Investment Research lowered shares of Qorvo from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Piper Jaffray started coverage on shares of Qorvo in a report on Monday, February 26th. They issued an “overweight” rating and a $90.00 target price on the stock. Bank of America lowered shares of Qorvo from a “neutral” rating to an “underperform” rating in a report on Thursday, March 15th. Finally, Nomura lowered shares of Qorvo from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $75.00 in a report on Tuesday, March 20th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.47.
The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $9,293.49, a P/E ratio of 17.44, a PEG ratio of 1.02 and a beta of 0.92.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The firm had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s revenue was up 2.3% on a year-over-year basis. equities analysts anticipate that Qorvo will post 4.49 earnings per share for the current year.
In other Qorvo news, Director Daniel A. Dileo sold 2,500 shares of the company’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 transaction, the director now directly owns 27,282 shares in the company, valued at approximately $2,290,869.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $72.75, for a total transaction of $436,500.00. Following the transaction, the vice president now owns 64,725 shares in the company, valued at $4,708,743.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,500 shares of company stock worth $1,679,955. Corporate insiders own 0.91% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its position in Qorvo by 45.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 9,485 shares of the semiconductor company’s stock valued at $632,000 after purchasing an additional 2,977 shares during the period. Xact Kapitalforvaltning AB lifted its position in Qorvo by 6.3% during the 4th quarter. Xact Kapitalforvaltning AB now owns 26,721 shares of the semiconductor company’s stock valued at $1,780,000 after purchasing an additional 1,588 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Qorvo by 4.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 55,855 shares of the semiconductor company’s stock valued at $3,720,000 after purchasing an additional 2,329 shares during the period. Wealthsource Partners LLC acquired a new position in Qorvo during the 4th quarter valued at about $281,000. Finally, MetLife Investment Advisors LLC acquired a new position in Qorvo during the 4th quarter valued at about $2,623,000. Institutional investors own 97.56% of the company’s stock.
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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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