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

Qorvo, Inc. (NASDAQ:QRVO) has received a consensus recommendation of “Hold” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $95.84.

QRVO has been the topic of several analyst reports. Loop Capital upped their price target on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Piper Sandler upgraded Qorvo from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, The Goldman Sachs Group reduced their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of 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 in the last quarter. Verdence Capital Advisors LLC boosted its stake in Qorvo by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company’s stock valued at $401,000 after buying an additional 140 shares in the last quarter. Alexander Randolph Advisory Inc. grew its position in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company’s stock valued at $950,000 after acquiring an additional 140 shares during the last quarter. Huntington National Bank raised its stake in Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of Qorvo by 1.0% in the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company’s stock worth $1,969,000 after acquiring an additional 181 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

Qorvo Stock Performance

QRVO opened at $76.80 on Monday. Qorvo has a 52-week low of $64.54 and a 52-week high of $130.99. The firm has a market capitalization of $7.17 billion, a PE ratio of 274.29, a PEG ratio of 15.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The business’s 50-day simple moving average is $77.09 and its 200 day simple moving average is $84.32.

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.