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

Qorvo, Inc. (NASDAQ:QRVO) has been given an average rating of “Hold” by the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $111.53.

Several research firms have recently weighed in on QRVO. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price on shares of Qorvo in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price objective on shares of Qorvo from $95.00 to $105.00 and gave the stock an “underweight” rating in a research report on Thursday, February 1st. Barclays increased their target price on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, January 16th. Rosenblatt Securities upped their price target on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Finally, Craig Hallum raised their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st.

Qorvo Stock Performance

Qorvo stock opened at $107.84 on Friday. Qorvo has a 1 year low of $80.62 and a 1 year high of $121.65. The firm’s 50 day moving average price is $113.89 and its two-hundred day moving average price is $104.39. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Sell-side analysts forecast that Qorvo will post 4.95 earnings per share for the current fiscal year.

Insider Activity at Qorvo

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after acquiring an additional 3,347,972 shares during the last quarter. Norges Bank acquired a new stake in shares of Qorvo in the 4th quarter valued at $101,478,000. UBS Group AG raised its position in shares of Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after acquiring an additional 1,053,157 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Qorvo by 142.1% during the first quarter. JPMorgan Chase & Co. now owns 1,271,221 shares of the semiconductor company’s stock valued at $129,119,000 after acquiring an additional 746,216 shares during the period. Finally, Baupost Group LLC MA boosted its holdings in Qorvo by 11.8% in the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after acquiring an additional 699,968 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

About Qorvo

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.