Qorvo (NASDAQ:QRVO) PT Lowered to $105.00

Qorvo (NASDAQ:QRVO) had its target price reduced by equities research analysts at The Goldman Sachs Group from $117.00 to $105.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 9.43% from the company’s current price.

QRVO has been the subject of a number of other research reports. Raymond James lifted their price objective on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Rosenblatt Securities lifted their price objective on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered their price objective on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Thursday. Needham & Company LLC lowered their price target on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Craig Hallum lifted their price target on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Qorvo has an average rating of “Hold” and a consensus target price of $110.83.

Qorvo Trading Up 0.3 %

QRVO traded up $0.28 during trading on Friday, reaching $95.95. The company had a trading volume of 2,424,505 shares, compared to its average volume of 1,346,378. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. Qorvo has a 52 week low of $80.62 and a 52 week high of $121.65. The stock has a market cap of $9.26 billion, a P/E ratio of -132.56, a PEG ratio of 0.86 and a beta of 1.53. The business has a 50 day simple moving average of $113.49 and a 200-day simple moving average of $105.57.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. The company had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.25%. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. On average, equities analysts anticipate that Qorvo will post 6.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 354 shares of Qorvo 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 sale, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gina Harrison sold 354 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were 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 owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Xponance Inc. raised its holdings in Qorvo by 1.7% in the 3rd quarter. Xponance Inc. now owns 14,159 shares of the semiconductor company’s stock worth $1,352,000 after purchasing an additional 240 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Qorvo by 1.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,435 shares of the semiconductor company’s stock valued at $2,142,000 after buying an additional 299 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Qorvo by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,410 shares of the semiconductor company’s stock valued at $326,000 after acquiring an additional 317 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Qorvo by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,216 shares of the semiconductor company’s stock worth $7,563,000 after acquiring an additional 7,114 shares in the last quarter. Finally, BluePath Capital Management LLC acquired a new position in Qorvo during the third quarter worth $133,000. Institutional investors and hedge funds 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.