Qorvo, Inc. (NASDAQ:QRVO) Receives $112.94 Average PT from Analysts

Qorvo, Inc. (NASDAQ:QRVO) has earned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $112.94.

Several equities research analysts have recently commented on QRVO shares. The Goldman Sachs Group decreased their target price on shares of Qorvo from $117.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. JPMorgan Chase & Co. decreased their target price on shares of Qorvo from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Benchmark decreased their target price on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Qorvo in a research report on Wednesday, June 12th. Finally, Susquehanna upped their price objective on shares of Qorvo from $95.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th.

Insider Activity at Qorvo

In related news, Director John R. Harding sold 941 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were 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 approximately $676,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Qorvo news, CEO Robert A. Bruggeworth sold 15,279 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total value of $1,527,900.00. Following the sale, the chief executive officer now directly owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Harding sold 941 shares of the stock in a transaction that occurred 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 completion of 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. In the last ninety days, insiders have sold 45,372 shares of company stock worth $4,517,858. 0.46% of the stock is owned by corporate insiders.

Institutional Trading of Qorvo

Several institutional investors and hedge funds have recently made changes to their positions in QRVO. Diversified Trust Co purchased a new stake in shares of Qorvo during the 4th quarter valued at $244,000. CX Institutional bought a new position in shares of Qorvo during the 4th quarter valued at $224,000. SG Americas Securities LLC grew its holdings in shares of Qorvo by 298.9% during the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock valued at $2,005,000 after purchasing an additional 13,340 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of Qorvo by 33.0% during the 4th quarter. Artemis Investment Management LLP now owns 384,710 shares of the semiconductor company’s stock valued at $43,321,000 after purchasing an additional 95,481 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Qorvo by 201.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 405,143 shares of the semiconductor company’s stock valued at $45,623,000 after purchasing an additional 270,745 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $122.01 on Friday. The firm’s 50-day moving average price is $111.88 and its 200-day moving average price is $110.32. Qorvo has a 1-year low of $80.62 and a 1-year high of $130.99. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44.

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

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.