Qorvo (QRVO) Now Covered by Loop Capital

Analysts at Loop Capital assumed coverage on shares of Qorvo (NASDAQ:QRVO) in a report issued on Thursday, The Fly reports. The firm set a “buy” rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. Barclays lifted their price target on shares of Qorvo from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday. Mizuho reaffirmed a “hold” rating and issued a $74.00 price target on shares of Qorvo in a research note on Thursday, May 3rd. BidaskClub raised shares of Qorvo from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Citigroup lifted their price target on shares of Qorvo from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, May 4th. Finally, Zacks Investment Research raised shares of Qorvo from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $82.39.

NASDAQ QRVO traded down $1.23 during mid-day trading on Thursday, reaching $82.23. 680,751 shares of the stock were exchanged, compared to its average volume of 1,904,647. Qorvo has a one year low of $62.68 and a one year high of $86.84. The company has a market capitalization of $10.56 billion, a PE ratio of 17.20, a P/E/G ratio of 1.36 and a beta of 1.00. The company has a quick ratio of 3.11, a current ratio of 4.18 and a debt-to-equity ratio of 0.21.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 2nd. The semiconductor company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. Qorvo had a negative net margin of 1.35% and a positive return on equity of 12.50%. The business had revenue of $665.40 million during the quarter, compared to the consensus estimate of $655.67 million. During the same quarter last year, the firm earned $0.85 earnings per share. Qorvo’s quarterly revenue was up 3.5% on a year-over-year basis. equities analysts expect that Qorvo will post 5.14 earnings per share for the current fiscal year.

In other news, VP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $79.99, for a total transaction of $239,970.00. Following the completion of the sale, the vice president now directly owns 79,646 shares of the company’s stock, valued at $6,370,883.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $72.75, for a total transaction of $436,500.00. Following the sale, the vice president now directly owns 64,725 shares of the company’s stock, valued at $4,708,743.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,404 shares of company stock valued at $4,798,110. 0.91% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. boosted its holdings in Qorvo by 3.6% during the first quarter. Suntrust Banks Inc. now owns 19,596 shares of the semiconductor company’s stock worth $1,379,000 after purchasing an additional 686 shares during the last quarter. Amalgamated Bank boosted its holdings in Qorvo by 5.2% during the first quarter. Amalgamated Bank now owns 17,191 shares of the semiconductor company’s stock worth $1,211,000 after purchasing an additional 846 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in Qorvo by 36.2% during the first quarter. Summit Trail Advisors LLC now owns 4,918 shares of the semiconductor company’s stock worth $260,000 after purchasing an additional 1,306 shares during the last quarter. CIBC World Markets Inc. purchased a new position in Qorvo during the first quarter worth about $1,053,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in Qorvo by 2.7% during the first quarter. Xact Kapitalforvaltning AB now owns 27,451 shares of the semiconductor company’s stock worth $1,934,000 after purchasing an additional 730 shares during the last quarter. Institutional investors and hedge funds own 97.51% of the company’s stock.

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.

The Fly

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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