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

Qorvo, Inc. (NASDAQ:QRVO) has received an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $98.47.

Several analysts have recently issued reports on QRVO shares. JPMorgan Chase & Co. lowered their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 30th. Susquehanna lowered their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Craig Hallum dropped their target price on Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Mizuho reduced their price target on Qorvo from $98.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group dropped their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated 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 of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Qorvo

Several institutional investors have recently modified their holdings of QRVO. Pacer Advisors Inc. raised its position in Qorvo by 17,255.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after purchasing an additional 1,418,784 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock valued at $57,125,000 after buying an additional 645,829 shares during the last quarter. Vulcan Value Partners LLC increased its holdings in shares of Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after buying an additional 550,111 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Qorvo by 140.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after acquiring an additional 487,621 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in Qorvo during the 2nd quarter valued at about $34,812,000. 88.57% of the stock is currently owned by institutional investors.

Qorvo Trading Up 14.4 %

Qorvo stock opened at $84.21 on Friday. The business’s 50 day simple moving average is $70.09 and its 200 day simple moving average is $93.69. Qorvo has a 12 month low of $64.54 and a 12 month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, research analysts expect that Qorvo will post 3.37 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.