Qorvo (NASDAQ:QRVO) Price Target Increased to $120.00 by Analysts at Rosenblatt Securities

Qorvo (NASDAQ:QRVO) had its target price upped by Rosenblatt Securities from $105.00 to $120.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on the stock. TD Cowen raised their price target on shares of Qorvo from $110.00 to $125.00 and gave the company a hold rating in a research note on Wednesday. Benchmark decreased their price objective on shares of Qorvo from $136.00 to $128.00 and set a buy rating for the company in a report on Thursday, May 2nd. Susquehanna decreased their price objective on shares of Qorvo from $145.00 to $135.00 and set a neutral rating for the company in a report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of Qorvo from $117.00 to $105.00 and set a neutral rating for the company in a report on Friday, May 3rd. Finally, Mizuho decreased their price objective on shares of Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $120.83.

Qorvo Trading Up 0.3 %

QRVO opened at $119.80 on Wednesday. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $130.99. The company’s 50-day moving average price is $112.78 and its 200 day moving average price is $110.62. 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 released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.73%. Qorvo’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. Equities research analysts predict that Qorvo will post 5.07 EPS for the current fiscal year.

Insiders Place Their Bets

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 completion of the sale, the chief executive officer now owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Robert A. Bruggeworth sold 15,279 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $100.00, for a total transaction of $1,527,900.00. Following the transaction, the chief executive officer now owns 190,161 shares in the company, valued at approximately $19,016,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Bruggeworth sold 4,721 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.00, for a total transaction of $472,100.00. Following the completion of the transaction, the chief executive officer now owns 205,440 shares in the company, valued at $20,544,000. The disclosure for this sale can be found here. Insiders sold a total of 45,372 shares of company stock worth $4,517,858 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mather Group LLC. boosted its position in shares of Qorvo by 5.6% during the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after acquiring an additional 96 shares in the last quarter. Zhang Financial LLC boosted its position in shares of Qorvo by 2.7% during the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after acquiring an additional 102 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Qorvo by 0.4% during the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock valued at $2,825,000 after acquiring an additional 103 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Qorvo by 3.2% during the 1st quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 117 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.