Qorvo (NASDAQ:QRVO) Rating Reiterated by Susquehanna

Qorvo (NASDAQ:QRVO)‘s stock had its “neutral” rating reissued by research analysts at Susquehanna in a research report issued on Monday, Benzinga reports. They currently have a $100.00 price target on the semiconductor company’s stock. Susquehanna’s target price would suggest a potential downside of 14.16% from the company’s current price.

QRVO has been the subject of a number of other research reports. Barclays lifted their price objective on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Craig Hallum raised their price objective on shares of Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Piper Sandler decreased their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Raymond James raised their price target on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities upped their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and an average target price of $111.53.

Qorvo Trading Up 1.8 %

NASDAQ QRVO opened at $116.49 on Monday. The firm’s 50 day moving average price is $113.26 and its two-hundred day moving average price is $103.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -54.18, a PEG ratio of 0.88 and a beta of 1.56.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. Equities analysts anticipate that Qorvo will post 4.95 EPS for the current year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 354 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock valued at $745,434 in the last three months. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in shares of Qorvo in the 1st quarter worth approximately $193,000. GAMMA Investing LLC raised its stake in Qorvo by 12.9% during the first quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock worth $119,000 after acquiring an additional 119 shares in the last quarter. Quadrature Capital Ltd raised its stake in Qorvo by 0.4% during the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after acquiring an additional 103 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Qorvo by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 5,635 shares of the semiconductor company’s stock valued at $635,000 after acquiring an additional 102 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Qorvo in the 4th quarter valued at $463,000. 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.