Susquehanna Lowers Qorvo (NASDAQ:QRVO) Price Target to $115.00

Qorvo (NASDAQ:QRVO) had its target price lowered by Susquehanna from $135.00 to $115.00 in a report published on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Craig Hallum upped their price target on Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised Qorvo to a “hold” rating in a research note on Monday, September 16th. Raymond James upped their target price on Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $121.29.

Qorvo Stock Down 0.7 %

Shares of NASDAQ:QRVO opened at $99.53 on Monday. Qorvo has a 1 year low of $80.62 and a 1 year high of $130.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36. The business’s 50-day moving average is $105.56 and its 200-day moving average is $108.37. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of -136.34, a P/E/G ratio of 1.22 and a beta of 1.45.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.16. The firm 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%. The company’s revenue was up 36.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. Equities research analysts predict that Qorvo will post 4.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC increased its position in Qorvo by 6.0% in the third quarter. Clear Harbor Asset Management LLC now owns 31,155 shares of the semiconductor company’s stock worth $3,218,000 after buying an additional 1,758 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Qorvo by 12.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,552 shares of the semiconductor company’s stock worth $470,000 after acquiring an additional 501 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in Qorvo by 3.4% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 61,061 shares of the semiconductor company’s stock worth $6,308,000 after acquiring an additional 1,984 shares during the last quarter. Forsta AP Fonden raised its stake in Qorvo by 16.3% in the 3rd quarter. Forsta AP Fonden now owns 17,800 shares of the semiconductor company’s stock valued at $1,839,000 after acquiring an additional 2,500 shares during the period. Finally, Jackson Wealth Management LLC lifted its holdings in Qorvo by 151.9% during the third quarter. Jackson Wealth Management LLC now owns 17,430 shares of the semiconductor company’s stock valued at $1,801,000 after purchasing an additional 10,511 shares during the last quarter. 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.