Qorvo, Inc. (NASDAQ:QRVO) Given Average Rating of “Hold” by Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVOGet Rating) have been given an average rating of “Hold” by the twenty-five analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $172.18.

Several research analysts recently commented on QRVO shares. Oppenheimer downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday, January 13th. Morgan Stanley downgraded shares of Qorvo from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $185.00 to $150.00 in a report on Thursday, March 3rd. Rosenblatt Securities dropped their target price on shares of Qorvo from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, February 3rd. The Goldman Sachs Group downgraded shares of Qorvo from a “buy” rating to a “neutral” rating and set a $138.00 target price on the stock. in a report on Sunday, March 27th. Finally, Cowen dropped their target price on shares of Qorvo from $230.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, February 3rd.

In other Qorvo news, VP Paul J. Fego sold 861 shares of the business’s stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $131.78, for a total value of $113,462.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in QRVO. Carroll Financial Associates Inc. lifted its position in shares of Qorvo by 12.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 580 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 63 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Qorvo by 5.1% during the third quarter. 180 Wealth Advisors LLC now owns 1,392 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 68 shares in the last quarter. Aurora Investment Counsel lifted its position in shares of Qorvo by 1.0% during the fourth quarter. Aurora Investment Counsel now owns 7,593 shares of the semiconductor company’s stock worth $1,187,000 after purchasing an additional 78 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Qorvo by 5.9% during the third quarter. Empirical Finance LLC now owns 1,461 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 81 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Qorvo by 1.0% during the third quarter. Daiwa Securities Group Inc. now owns 8,395 shares of the semiconductor company’s stock worth $1,404,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 83.49% of the company’s stock.

Shares of QRVO stock traded up $2.92 on Monday, hitting $114.61. The company’s stock had a trading volume of 900,558 shares, compared to its average volume of 1,361,898. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.63 and a quick ratio of 2.58. Qorvo has a fifty-two week low of $109.84 and a fifty-two week high of $201.68. The firm’s fifty day moving average price is $125.09 and its 200-day moving average price is $142.63. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 0.94 and a beta of 1.37.

Qorvo (NASDAQ:QRVOGet Rating) last released its quarterly earnings data on Wednesday, February 2nd. The semiconductor company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.28. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Qorvo had a net margin of 24.60% and a return on equity of 27.27%. Qorvo’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 EPS. Analysts predict that Qorvo will post 11.25 EPS for the current fiscal year.

About Qorvo (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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