Qorvo, Inc. (NASDAQ:QRVO) Given Average Rating of “Hold” by Analysts

Qorvo, Inc. (NASDAQ:QRVO) has been assigned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $99.06.

Several brokerages recently commented on QRVO. Loop Capital started coverage on Qorvo in a report on Monday, November 11th. They issued a “hold” rating and a $73.00 price objective on the stock. UBS Group dropped their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Bank of America cut their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday, October 30th. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Finally, Mizuho cut their target price on Qorvo from $98.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Qorvo by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 107 shares in the last quarter. American Trust increased 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 valued at $245,000 after purchasing an additional 115 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Qorvo by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock valued at $401,000 after purchasing an additional 140 shares in the last quarter. Finally, Narwhal Capital Management lifted its position in Qorvo by 7.7% in the third quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Trading Down 0.8 %

Shares of NASDAQ:QRVO opened at $73.59 on Friday. The firm has a fifty day moving average of $69.81 and a two-hundred day moving average of $94.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo has a 12-month low of $64.54 and a 12-month high of $130.99.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $1.99 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities analysts predict that Qorvo will post 3.37 earnings per share for the current year.

Qorvo Company Profile

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.