Qorvo (NASDAQ:QRVO) Downgraded by StockNews.com

Qorvo (NASDAQ:QRVOGet Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Several other research firms have also recently weighed in on QRVO. The Goldman Sachs Group lowered their price objective on shares of Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Barclays dropped their price objective on Qorvo from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Benchmark lowered their price target on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Finally, Susquehanna lowered their target price on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $110.83.

Get Our Latest Research Report on Qorvo

Qorvo Stock Up 0.3 %

QRVO opened at $99.98 on Friday. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of -136.96, a PEG ratio of 0.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. The firm’s 50-day simple moving average is $105.35 and its 200-day simple moving average is $107.07. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65.

Qorvo (NASDAQ:QRVOGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The business’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. Equities research analysts anticipate that Qorvo will post 5.16 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 4,721 shares of Qorvo stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total value of $472,100.00. Following the transaction, the chief executive officer now owns 205,440 shares of the company’s stock, valued at $20,544,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Robert A. Bruggeworth sold 4,721 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.00, for a total value of $472,100.00. Following the sale, the chief executive officer now directly owns 205,440 shares in the company, valued at $20,544,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul J. Fego sold 2,132 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total value of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares of the company’s stock, valued at $2,502,711.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,093 shares of company stock valued at $2,989,958. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QRVO. Park Place Capital Corp boosted its position in 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 purchasing an additional 207 shares during the period. Riverview Trust Co acquired a new stake in Qorvo during the 1st quarter worth approximately $40,000. Fidelis Capital Partners LLC bought a new stake in Qorvo in the 1st quarter valued at $58,000. Huntington National Bank grew its holdings in Qorvo by 8,090.0% in the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 809 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Qorvo during the 4th quarter worth $104,000. 88.57% of the stock is currently 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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Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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