Qorvo, Inc. (NASDAQ:QRVO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $102.88.

Several research firms recently commented on QRVO. Susquehanna reduced their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Piper Sandler lowered their price target on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, October 25th. TD Cowen cut their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley downgraded Qorvo from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $130.00 to $120.00 in a research note on Friday, October 11th. Finally, StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the transaction, the vice president now directly owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of QRVO. Mather Group LLC. raised its stake in shares of Qorvo by 5.6% in the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 96 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Qorvo by 5.0% during the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock worth $231,000 after buying an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 115 shares during the period. Finally, American Trust boosted its stake in Qorvo by 5.8% in the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 115 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Stock Up 0.4 %

QRVO opened at $68.40 on Friday. The company has a market cap of $6.47 billion, a PE ratio of -46.68, a price-to-earnings-growth ratio of 5.59 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. Qorvo has a 1 year low of $64.98 and a 1 year high of $130.99. The firm has a 50 day moving average price of $88.82 and a 200 day moving average price of $102.74.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $1.99 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts expect that Qorvo will post 3.37 earnings per share for the current year.

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.