Qorvo’s (QRVO) “Hold” Rating Reiterated at Benchmark

Benchmark reaffirmed their hold rating on shares of Qorvo (NASDAQ:QRVO) in a research report released on Wednesday,Benzinga reports.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group cut their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $90.00 to $106.00 in a research report on Tuesday, January 21st. UBS Group cut their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Mizuho increased their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Susquehanna 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 report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Down 0.9 %

Shares of NASDAQ QRVO opened at $82.98 on Wednesday. Qorvo has a 12 month low of $64.54 and a 12 month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 296.36, a PEG ratio of 6.89 and a beta of 1.40. The stock has a 50-day moving average price of $74.01 and a two-hundred day moving average price of $91.48.

Qorvo (NASDAQ:QRVO) last issued 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 net margin of 0.71% and a return on equity of 12.32%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $1.99 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts forecast that Qorvo will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of QRVO. Farther Finance Advisors LLC boosted its holdings in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 107 shares during the period. American Trust boosted its position in Qorvo by 5.8% in the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock worth $245,000 after purchasing an additional 115 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Qorvo by 3.7% in the 3rd 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 during the period. Finally, Narwhal Capital Management increased its position in shares of Qorvo by 7.7% during the 3rd quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

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.