Qorvo (NASDAQ:QRVO) PT Lowered to $115.00

Qorvo (NASDAQ:QRVO) had its price target lowered by equities researchers at Susquehanna from $135.00 to $115.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price objective indicates a potential upside of 10.05% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Rosenblatt Securities boosted their price target on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Craig Hallum boosted their target price on shares of Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James upped their price target on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, TD Cowen upgraded Qorvo to a “hold” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and an average target price of $121.29.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $104.50 on Monday. The company has a market capitalization of $9.93 billion, a PE ratio of -143.15, a price-to-earnings-growth ratio of 1.26 and a beta of 1.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The stock has a fifty day moving average of $106.29 and a 200-day moving average of $108.66. Qorvo has a one year low of $80.62 and a one year high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.71 by $0.16. The business had revenue of $886.70 million during the quarter, compared to the consensus estimate of $851.95 million. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. Qorvo’s revenue was up 36.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, equities analysts anticipate that Qorvo will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of QRVO. Capital Research Global Investors boosted its stake in shares of Qorvo by 2.1% during the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock worth $527,298,000 after acquiring an additional 93,068 shares in the last quarter. Vulcan Value Partners LLC grew its holdings in Qorvo by 35.0% during the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock valued at $246,665,000 after purchasing an additional 550,111 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Qorvo by 17,255.9% in the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after purchasing an additional 1,418,784 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after buying an additional 4,386 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Qorvo by 20.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock worth $90,535,000 after buying an additional 132,866 shares during the period. 88.57% of the stock is currently owned by institutional investors.

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.