Mizuho Lowers Qorvo (NASDAQ:QRVO) Price Target to $105.00

Qorvo (NASDAQ:QRVO) had its price objective lowered by research analysts at Mizuho from $115.00 to $105.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price objective indicates a potential upside of 9.43% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Susquehanna restated a “neutral” rating and issued a $100.00 price objective on shares of Qorvo in a research report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Qorvo from $95.00 to $105.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Barclays upped their target price on shares of Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Rosenblatt Securities increased their target price on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Finally, Raymond James lifted their price target on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.83.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $95.95 on Thursday. The firm has a fifty day moving average price of $113.15 and a two-hundred day moving average price of $105.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.33. Qorvo has a one year low of $80.62 and a one year high of $121.65.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same quarter last year, the business posted $0.11 earnings per share. The firm’s revenue was up 48.7% compared to the same quarter last year. As a group, equities analysts anticipate that Qorvo will post 6.69 EPS for the current year.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Gina Harrison sold 354 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock valued at $745,434 over the last three months. 0.43% of the stock is owned by company insiders.

Institutional Trading of Qorvo

Several large investors have recently added to or reduced their stakes in QRVO. Park Place Capital Corp lifted its position in shares of Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the period. Riverview Trust Co purchased a new stake in Qorvo in the first quarter worth about $40,000. Fidelis Capital Partners LLC purchased a new stake in Qorvo in the first quarter worth about $58,000. Huntington National Bank boosted its position in Qorvo by 8,090.0% during the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 809 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Qorvo during the 4th quarter worth approximately $104,000. Institutional investors own 88.57% of the company’s stock.

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.