Qorvo’s (QRVO) Hold Rating Reiterated at Benchmark

Benchmark restated their hold rating on shares of Qorvo (NASDAQ:QRVO) in a research report report published on Wednesday,Benzinga reports.

Several other equities research analysts also recently commented on QRVO. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. Bank of America dropped their target price on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. TD Cowen reduced their price target on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Susquehanna lowered their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group reduced their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $95.84.

Qorvo Trading Up 0.3 %

Shares of QRVO stock opened at $86.03 on Wednesday. The stock has a fifty day moving average of $73.41 and a 200 day moving average of $91.84. Qorvo has a 52 week low of $64.54 and a 52 week high of $130.99. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data 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 positive return on equity of 13.81% and a negative net margin of 3.58%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.99 EPS. The business’s revenue was down 5.2% on a year-over-year basis. As a group, research analysts predict that Qorvo will post 3.37 earnings per share for the current fiscal year.

Insider Activity at Qorvo

In other Qorvo 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 value 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 filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Qorvo

A number of hedge funds have recently made changes to their positions in QRVO. Larson Financial Group LLC lifted 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 worth $33,000 after purchasing an additional 201 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Qorvo in the third quarter worth $41,000. Versant Capital Management Inc boosted its position in shares of Qorvo by 89.7% during the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 734 shares during the last quarter. 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.