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

StockNews.com downgraded shares of Qorvo (NASDAQ:QRVO) from a buy rating to a hold rating in a research report report published on Thursday morning.

QRVO has been the subject of several other research reports. Needham & Company LLC boosted their target price on shares of Qorvo from $110.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Mizuho lowered their price objective on Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Benchmark reduced their target price on Qorvo from $136.00 to $128.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Raymond James boosted their price target on Qorvo from $115.00 to $135.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Finally, Susquehanna dropped their price target on Qorvo from $145.00 to $135.00 and set a neutral rating on the stock in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Qorvo currently has a consensus rating of Hold and an average target price of $121.00.

Qorvo Trading Down 2.5 %

Shares of QRVO opened at $107.93 on Thursday. Qorvo has a one year low of $80.62 and a one year high of $130.99. The stock has a 50-day moving average price of $113.66 and a 200 day moving average price of $110.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.95. The company has a market capitalization of $10.24 billion, a P/E ratio of -147.85, a P/E/G ratio of 1.29 and a beta of 1.46.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. During the same period in the prior year, the business posted $0.03 EPS. The business’s revenue was up 36.2% on a year-over-year basis. Sell-side analysts forecast that Qorvo will post 5.02 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, Director John R. Harding sold 941 shares of the business’s 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 transaction, the director now directly owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John R. Harding sold 941 shares of Qorvo stock in a transaction dated 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 $676,652. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul J. Fego sold 2,132 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $99.31, for a total transaction of $211,728.92. Following the completion of the sale, the senior vice president now directly owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,372 shares of company stock worth $4,517,858. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qorvo

A number of institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo in the second quarter valued at $29,000. Park Place Capital Corp boosted its position in shares of Qorvo by 398.1% during the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 280 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in Qorvo during the second quarter valued at approximately $34,000. 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.