Qorvo (NASDAQ:QRVO) Now Covered by Analysts at Loop Capital

Loop Capital assumed coverage on shares of Qorvo (NASDAQ:QRVO) in a research report sent to investors on Monday, MarketBeat reports. The brokerage issued a hold rating and a $73.00 target price on the semiconductor company’s stock.

Several other equities analysts have also commented on the company. Craig Hallum dropped their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Rosenblatt Securities boosted their target price on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays cut their price target on shares of Qorvo from $120.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Qorvo has a consensus rating of “Hold” and an average price target of $102.88.

Qorvo Stock Performance

Qorvo stock opened at $68.74 on Monday. Qorvo has a fifty-two week low of $67.94 and a fifty-two week high of $130.99. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -47.08, a PEG ratio of 5.64 and a beta of 1.49. The stock has a fifty day moving average of $97.27 and a two-hundred day moving average of $105.57. 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 (NASDAQ:QRVO) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $1.99 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts anticipate that Qorvo will post 3.37 EPS for the current fiscal year.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares in the company, valued at approximately $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. grew its position in shares of Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 96 shares during the last quarter. Farther Finance Advisors LLC grew its position in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Qorvo by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 107 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the last quarter. Finally, American Trust boosted its position in shares of Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after buying an additional 115 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

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.