Qorvo (NASDAQ:QRVO) Upgraded at StockNews.com

StockNews.com upgraded shares of Qorvo (NASDAQ:QRVOFree Report) from a hold rating to a buy rating in a research note published on Thursday.

A number of other analysts have also recently weighed in on the stock. Raymond James boosted their target price on shares of Qorvo from $115.00 to $120.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Craig Hallum lifted their price target on shares of Qorvo from $110.00 to $125.00 and gave the stock a buy rating in a report on Thursday, February 1st. The Goldman Sachs Group cut their price target on shares of Qorvo from $117.00 to $105.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Susquehanna cut their price target on shares of Qorvo from $100.00 to $95.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Finally, Rosenblatt Securities lifted their price target 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Qorvo presently has an average rating of Hold and an average target price of $110.83.

Check Out Our Latest Stock Report on QRVO

Qorvo Stock Performance

NASDAQ QRVO opened at $97.09 on Thursday. The firm’s fifty day moving average price is $106.59 and its two-hundred day moving average price is $106.84. The stock has a market cap of $9.28 billion, a PE ratio of -133.00, a PEG ratio of 0.95 and a beta of 1.53. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99.

Qorvo (NASDAQ:QRVOGet Free Report) last posted its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The company’s revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, equities analysts expect that Qorvo will post 5.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert A. Bruggeworth sold 22,299 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the transaction, the chief executive officer now owns 154,714 shares in the company, valued at $15,364,647.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Harding sold 941 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the transaction, the director now owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,093 shares of company stock worth $2,989,958. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Park Place Capital Corp increased its position in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. Riverview Trust Co bought a new stake in shares of Qorvo during the first quarter worth about $40,000. Fidelis Capital Partners LLC bought a new stake in Qorvo in the 1st quarter worth about $58,000. Huntington National Bank grew its position in Qorvo by 8,090.0% in the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 809 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in Qorvo in the 4th quarter worth about $104,000. 88.57% of the stock is owned by institutional investors.

Qorvo Company Profile

(Get Free Report)

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.

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