Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) PT at $111.53

Qorvo, Inc. (NASDAQ:QRVOGet Free Report) has received an average recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $111.53.

A number of research analysts recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 target price on shares of Qorvo in a report on Thursday, February 1st. Raymond James lifted their target price on Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Piper Sandler reduced their target price on Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, February 1st. Susquehanna reiterated a “neutral” rating and issued a $100.00 target price on shares of Qorvo in a report on Monday, April 8th. Finally, The Goldman Sachs Group lifted their target price on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, February 1st.

Get Our Latest Research Report on QRVO

Insider Transactions at Qorvo

In other news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares in the company, valued at $3,386,370. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Qorvo

Hedge funds and other institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust raised its stake in Qorvo by 106.4% during 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 in the last quarter. Resurgent Financial Advisors LLC acquired a new stake in Qorvo during the fourth quarter valued at approximately $34,000. Riverview Trust Co acquired a new stake in Qorvo during the first quarter valued at approximately $40,000. International Assets Investment Management LLC acquired a new stake in Qorvo during the first quarter valued at approximately $40,000. Finally, RVW Wealth LLC acquired a new stake in Qorvo during the third quarter valued at approximately $53,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Price Performance

QRVO stock opened at $111.36 on Friday. Qorvo has a 52-week low of $80.62 and a 52-week high of $121.65. The stock’s fifty day simple moving average is $113.89 and its 200-day simple moving average is $104.11. The company has a quick ratio of 1.33, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of -51.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.56.

Qorvo (NASDAQ:QRVOGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1 billion. Equities research analysts expect that Qorvo will post 4.95 EPS for the current year.

About Qorvo

(Get Free Report

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.

Further Reading

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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