Qorvo, Inc. (NASDAQ:QRVO) Receives $111.53 Consensus PT from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the eighteen ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $111.53.

QRVO has been the topic of several research reports. Susquehanna reissued a “neutral” rating and set a $100.00 price target on shares of Qorvo in a research report on Monday, April 8th. Piper Sandler dropped their price target on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Needham & Company LLC reissued a “buy” rating and set a $125.00 price target on shares of Qorvo in a research report on Thursday, February 1st. Craig Hallum upped their price target on Qorvo from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays upped their price target on Qorvo from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th.

Insider Transactions at Qorvo

In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Steven E. Creviston sold 3,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Qorvo

Institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its holdings in shares of Qorvo by 106.4% in the first quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 116 shares during the period. Riverview Trust Co acquired a new stake in shares of Qorvo in the first quarter valued at $40,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Qorvo in the fourth quarter valued at $34,000. Zions Bancorporation N.A. lifted its holdings in shares of Qorvo by 3,833.3% in the first quarter. Zions Bancorporation N.A. now owns 472 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 460 shares during the period. Finally, RVW Wealth LLC acquired a new stake in shares of Qorvo in the third quarter valued at $53,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO opened at $111.15 on Friday. The business’s 50 day moving average is $114.00 and its two-hundred day moving average is $104.33. Qorvo has a 52-week low of $80.62 and a 52-week high of $121.65. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of -51.70, a PEG ratio of 0.86 and a beta of 1.56. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.47. Qorvo had a positive return on equity of 10.41% and a negative net margin of 6.11%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. Analysts forecast that Qorvo will post 4.95 EPS for the current fiscal 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.