Qorvo (NASDAQ:QRVO) PT Lowered to $135.00

Qorvo (NASDAQ:QRVO) had its target price reduced by Susquehanna from $145.00 to $135.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other analysts have also commented on the company. Benchmark dropped their price target on Qorvo from $136.00 to $128.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Rosenblatt Securities reissued a neutral rating and set a $105.00 price objective on shares of Qorvo in a report on Wednesday, June 12th. Needham & Company LLC boosted their target price on Qorvo from $110.00 to $135.00 and gave the company a buy rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Qorvo from $105.00 to $100.00 and set an underweight rating for the company in a research note on Thursday, May 2nd. Finally, Barclays boosted their target price on shares of Qorvo from $100.00 to $125.00 and gave the company an equal weight rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Qorvo presently has a consensus rating of Hold and a consensus target price of $121.00.

Qorvo Stock Performance

Shares of QRVO opened at $107.93 on Wednesday. Qorvo has a one year low of $80.62 and a one year high of $130.99. The company has a market cap of $10.24 billion, a PE ratio of -147.85, a P/E/G ratio of 1.29 and a beta of 1.46. The stock has a 50-day moving average of $113.66 and a 200-day moving average of $110.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.41.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The company had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. Qorvo’s revenue for the quarter was up 36.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, equities research analysts predict that Qorvo will post 5.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $100.00, for a total value of $1,527,900.00. Following the completion of the sale, the chief executive officer now directly owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert A. Bruggeworth sold 22,299 shares of Qorvo stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $2,214,513.69. Following the sale, the chief executive officer now owns 154,714 shares of the company’s stock, valued at approximately $15,364,647.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the sale, the chief executive officer now directly owns 190,161 shares of the company’s stock, valued at $19,016,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,372 shares of company stock worth $4,517,858. Company insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

A number of large investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Qorvo during the 2nd quarter valued at about $29,000. Park Place Capital Corp boosted its holdings in Qorvo by 398.1% during the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 207 shares during the period. EverSource Wealth Advisors LLC grew its position in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 280 shares during the last quarter. Finally, New Millennium Group LLC bought a new position in shares of Qorvo in the second quarter worth about $34,000. 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.