Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Price Target at $95.84

Qorvo, Inc. (NASDAQ:QRVO) has received a consensus recommendation of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $95.84.

A number of brokerages recently issued reports on QRVO. Barclays dropped their price objective on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Qorvo in a research note on Wednesday, January 29th. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $106.00 in a research report on Tuesday, January 21st. Finally, Citigroup cut their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a report on Wednesday, January 29th.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its stake in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares during the period. Verdence Capital Advisors LLC raised its stake in Qorvo by 3.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock worth $401,000 after buying an additional 140 shares during the period. Alexander Randolph Advisory Inc. boosted its holdings in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock worth $950,000 after acquiring an additional 140 shares in the last quarter. Huntington National Bank grew its stake in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 145 shares during the period. Finally, Martingale Asset Management L P increased its holdings in shares of Qorvo by 1.0% during the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock valued at $1,969,000 after acquiring an additional 181 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Price Performance

Qorvo stock opened at $76.80 on Monday. The stock has a 50-day moving average price of $77.09 and a two-hundred day moving average price of $84.32. Qorvo has a 12 month low of $64.54 and a 12 month high of $130.99. The company has a market capitalization of $7.17 billion, a PE ratio of 274.29, a P/E/G ratio of 15.57 and a beta of 1.48. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

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.