StockNews.com Downgrades Qorvo (NASDAQ:QRVO) to Hold

StockNews.com downgraded shares of Qorvo (NASDAQ:QRVO) from a buy rating to a hold rating in a report released on Tuesday.

Several other research firms have also recently commented on QRVO. Mizuho decreased their target price on Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Barclays decreased their target price on Qorvo from $110.00 to $100.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. Susquehanna decreased their target price on Qorvo from $100.00 to $95.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Rosenblatt Securities reissued a neutral rating and issued a $105.00 price objective on shares of Qorvo in a research note on Wednesday, June 12th. Finally, Benchmark reduced their price objective on Qorvo from $136.00 to $128.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $110.83.

Qorvo Price Performance

Shares of QRVO opened at $116.04 on Tuesday. Qorvo has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of -158.96, a price-to-earnings-growth ratio of 1.10 and a beta of 1.44. The business has a 50-day moving average of $104.67 and a 200-day moving average of $108.65.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue was up 48.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Qorvo will post 5.16 earnings per share for the current year.

Insider Activity at Qorvo

In related news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the sale, the director now directly owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Paul J. Fego sold 2,132 shares of Qorvo stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the sale, the senior vice president now directly owns 25,201 shares in the company, valued at $2,502,711.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Harding sold 941 shares of Qorvo stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total value of $91,615.76. Following the sale, the director now owns 6,950 shares in the company, valued at $676,652. The disclosure for this sale can be found here. Insiders have sold a total of 45,372 shares of company stock valued at $4,517,858 over the last 90 days. Insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

Hedge funds have recently bought and sold shares of the business. Zhang Financial LLC raised its stake in shares of Qorvo by 2.7% in the fourth quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after buying an additional 102 shares during the period. Quadrature Capital Ltd raised its stake in shares of Qorvo by 0.4% in the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock valued at $2,825,000 after buying an additional 103 shares during the period. Wahed Invest LLC raised its stake in shares of Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 108 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the period. Finally, Empirical Finance LLC raised its stake in shares of Qorvo by 3.2% in the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock valued at $433,000 after buying an additional 117 shares during the period. 88.57% of the stock is currently owned by institutional investors.

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.