Qorvo (NASDAQ:QRVO) Shares Gap Down – Time to Sell?

Qorvo, Inc. (NASDAQ:QRVO) gapped down prior to trading on Thursday . The stock had previously closed at $82.59, but opened at $78.75. Qorvo shares last traded at $80.30, with a volume of 469,609 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on QRVO shares. Bank of America lowered their price objective on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Benchmark restated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Finally, Barclays dropped their price target on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Qorvo has an average rating of “Hold” and an average price target of $95.84.

Qorvo Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The business has a fifty day moving average of $75.01 and a 200-day moving average of $90.27. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 275.11, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

A number of institutional investors and hedge funds have recently modified their holdings of QRVO. Larson Financial Group LLC boosted its position in shares of 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 acquired a new position in shares of Qorvo in the third quarter worth about $41,000. Farther Finance Advisors LLC increased its position in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 104 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo during the fourth quarter valued at approximately $37,000. Finally, Versant Capital Management Inc lifted its position in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Qorvo Company Profile

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.