Analysts Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $95.84

Shares of Qorvo, Inc. (NASDAQ:QRVO) have earned an average rating of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $95.84.

A number of research analysts have recently issued reports on QRVO shares. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Stifel Nicolaus decreased their price target on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. StockNews.com upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, Citigroup cut their price target on shares of Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a report on Wednesday, January 29th.

Qorvo Price Performance

Shares of NASDAQ QRVO opened at $61.09 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The company has a market cap of $5.71 billion, a PE ratio of 218.18, a P/E/G ratio of 15.57 and a beta of 1.43. The stock has a fifty day moving average price of $75.56 and a 200 day moving average price of $79.63. Qorvo has a 1-year low of $60.89 and a 1-year high of $130.99.

Institutional Trading of Qorvo

A number of hedge funds have recently bought and sold shares of QRVO. Alexander Randolph Advisory Inc. increased its stake in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock valued at $950,000 after purchasing an additional 140 shares during the last quarter. Huntington National Bank increased its stake in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Qorvo by 1.0% during the 3rd quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after acquiring an additional 181 shares during the period. Truvestments Capital LLC grew its holdings in Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company’s stock valued at $194,000 after purchasing an additional 185 shares during the period. Finally, Larson Financial Group LLC increased its position in Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.