Qorvo, Inc. (NASDAQ:QRVO) Receives $95.84 Consensus Price Target from Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given a consensus recommendation of “Hold” by the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $95.84.

QRVO has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Susquehanna lowered their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler upgraded shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Finally, Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th.

Qorvo Trading Up 0.5 %

QRVO opened at $77.01 on Thursday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 275.04, a P/E/G ratio of 15.93 and a beta of 1.41. Qorvo has a 12 month low of $64.54 and a 12 month high of $130.99. The firm’s fifty day simple moving average is $75.56 and its 200 day simple moving average is $88.78. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46.

Insider Activity at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Institutional Trading of Qorvo

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Qorvo in the 3rd quarter valued at about $41,000. Rakuten Securities Inc. bought a new stake in Qorvo in the 4th quarter valued at about $28,000. Farther Finance Advisors LLC boosted its holdings in Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 145 shares during the period. 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.