Qorvo (NASDAQ:QRVO) Price Target Cut to $95.00

Qorvo (NASDAQ:QRVO) had its price objective lowered by equities researchers at Susquehanna from $100.00 to $95.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price indicates a potential downside of 15.10% from the stock’s previous close.

Several other brokerages also recently issued reports on QRVO. Craig Hallum increased their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Mizuho reduced their price objective on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group increased their price objective on Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Barclays increased their price objective on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $110.82.

Qorvo Trading Down 4.2 %

Shares of NASDAQ QRVO opened at $111.89 on Thursday. Qorvo has a 12 month low of $80.62 and a 12 month high of $121.65. The company has a market cap of $10.80 billion, a price-to-earnings ratio of -52.04, a P/E/G ratio of 0.93 and a beta of 1.53. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $113.84 and a 200-day simple moving average of $105.64.

Qorvo (NASDAQ:QRVO) last announced its 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 positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. During the same period in the prior year, the business posted $0.11 earnings per share. Qorvo’s revenue was up 48.7% compared to the same quarter last year. Sell-side analysts predict that Qorvo will post 4.95 EPS for the current year.

Insider Buying and Selling

In other news, VP Gina Harrison sold 354 shares of the company’s 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 completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. Insiders sold a total of 6,381 shares of company stock valued at $745,434 over the last three months. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Qorvo

Several hedge funds have recently made changes to their positions in QRVO. Park Place Capital Corp grew its stake in shares of Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares in the last quarter. Riverview Trust Co bought a new position in shares of Qorvo in the first quarter valued at $40,000. Huntington National Bank grew its stake in shares of Qorvo by 8,090.0% in the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 809 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Qorvo in the fourth quarter valued at $104,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Qorvo by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 951 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 150 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

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.