Qorvo, Inc. (NASDAQ:QRVO) Receives $99.06 Consensus Target Price from Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have earned a consensus rating of “Hold” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $98.47.

A number of equities analysts recently commented on the company. Susquehanna decreased their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Barclays dropped their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. UBS Group lowered their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, Raymond James downgraded Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th.

Qorvo Trading Up 14.4 %

QRVO stock opened at $84.21 on Friday. The firm’s 50-day moving average price is $70.09 and its two-hundred day moving average price is $93.69. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo has a 12-month low of $64.54 and a 12-month high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $1.99 EPS. Qorvo’s revenue was down 5.2% compared to the same quarter last year. As a group, analysts expect that Qorvo will post 3.37 EPS for the current year.

Insider Transactions at Qorvo

In other news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

Institutional investors and hedge funds have recently modified their holdings of the business. GDS Wealth Management bought a new position in Qorvo during the 3rd quarter valued at about $2,171,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Qorvo during the third quarter valued at approximately $2,507,000. Quest Partners LLC boosted its holdings in Qorvo by 504.6% in the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company’s stock worth $1,198,000 after purchasing an additional 9,678 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Qorvo in the 3rd quarter worth approximately $1,211,000. Institutional investors 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.