Qorvo, Inc. (NASDAQ:QRVO) Receives Consensus Recommendation of “Hold” from Analysts

Qorvo, Inc. (NASDAQ:QRVO) has been given an average rating of “Hold” by the eighteen ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $111.53.

A number of equities research analysts have recently weighed in on QRVO shares. Barclays boosted their target price on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Piper Sandler dropped their price objective on Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Raymond James upped their price objective on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Craig Hallum upped their price objective on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Qorvo in a report on Thursday, February 1st.

Qorvo Trading Up 1.0 %

QRVO stock opened at $111.15 on Friday. The company has a market cap of $10.73 billion, a P/E ratio of -51.70, a PEG ratio of 0.86 and a beta of 1.56. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average of $114.00 and a 200-day moving average of $104.33.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1 billion. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. As a group, equities research analysts expect that Qorvo will post 4.95 EPS for the current year.

Insider Transactions at Qorvo

In other news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock valued at $745,434 over the last three months. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust boosted its position in Qorvo by 106.4% during the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 116 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in Qorvo in the fourth quarter valued at approximately $34,000. Riverview Trust Co bought a new stake in Qorvo in the first quarter valued at approximately $40,000. International Assets Investment Management LLC bought a new stake in Qorvo in the first quarter valued at approximately $40,000. Finally, RVW Wealth LLC bought a new stake in Qorvo in the third quarter valued at approximately $53,000. 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.