Barclays Lowers Qorvo (NASDAQ:QRVO) Price Target to $100.00

Qorvo (NASDAQ:QRVO) had its price objective lowered by Barclays from $110.00 to $100.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

QRVO has been the topic of several other reports. Raymond James raised their price objective on Qorvo from $115.00 to $120.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Rosenblatt Securities boosted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, February 1st. Benchmark lowered their target price on Qorvo from $136.00 to $128.00 and set a buy rating for the company in a research note on Thursday. Mizuho reduced their price target on Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a report on Thursday. Finally, Susquehanna dropped their price objective on Qorvo from $100.00 to $95.00 and set a neutral rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Qorvo currently has an average rating of Hold and an average price target of $110.83.

Qorvo Trading Up 0.3 %

NASDAQ:QRVO traded up $0.28 on Thursday, hitting $95.95. 2,424,521 shares of the stock were exchanged, compared to its average volume of 1,436,907. The stock has a market cap of $9.26 billion, a PE ratio of -131.44, a PEG ratio of 0.74 and a beta of 1.53. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average of $113.15 and a 200-day moving average of $105.59.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same quarter last year, the firm posted $0.11 earnings per share. Qorvo’s revenue for the quarter was up 48.7% compared to the same quarter last year. As a group, equities analysts expect that Qorvo will post 6.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Qorvo news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is owned by corporate insiders.

Institutional Trading of Qorvo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Zhang Financial LLC grew its position in Qorvo by 2.7% during the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock worth $434,000 after purchasing an additional 102 shares in the last quarter. Quadrature Capital Ltd boosted its position in Qorvo by 0.4% during the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after acquiring an additional 103 shares during the period. Wahed Invest LLC boosted its holdings in shares of Qorvo by 7.5% during the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 108 shares during the period. Teacher Retirement System of Texas grew its position in Qorvo by 1.5% during the third quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after purchasing an additional 116 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Qorvo by 12.9% during the 1st quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock valued at $119,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

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.