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

Qorvo (NASDAQ:QRVO) had its price target lowered by Mizuho from $115.00 to $105.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

A number of other analysts also recently commented on QRVO. Needham & Company LLC restated a buy rating and issued a $125.00 price objective on shares of Qorvo in a report on Thursday, February 1st. Rosenblatt Securities increased their target price on shares of Qorvo from $95.00 to $105.00 and gave the company a neutral rating in a research note on Thursday, February 1st. Craig Hallum lifted their price target on shares of Qorvo from $110.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Susquehanna reissued a neutral rating and set a $100.00 price objective on shares of Qorvo in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on Qorvo from $95.00 to $105.00 and gave the stock an underweight rating in a report 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’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $110.83.

Qorvo Stock Up 0.3 %

Shares of NASDAQ QRVO opened at $95.95 on Thursday. The firm’s 50-day simple moving average is $113.15 and its 200 day simple moving average is $105.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.33 and a current ratio of 1.99. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $121.65.

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

Insider Transactions at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul J. Fego sold 3,027 shares of the company’s 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 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 sold 6,381 shares of company stock valued at $745,434 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Qorvo by 7.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 242,836 shares of the semiconductor company’s stock worth $23,184,000 after buying an additional 17,370 shares during the last quarter. Xponance Inc. increased its holdings in shares of Qorvo by 1.7% during the 3rd quarter. Xponance Inc. now owns 14,159 shares of the semiconductor company’s stock worth $1,352,000 after purchasing an additional 240 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Qorvo by 1.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,435 shares of the semiconductor company’s stock valued at $2,142,000 after buying an additional 299 shares during the period. Verdence Capital Advisors LLC grew its position in Qorvo by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 3,410 shares of the semiconductor company’s stock worth $326,000 after buying an additional 317 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Qorvo by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,216 shares of the semiconductor company’s stock valued at $7,563,000 after acquiring an additional 7,114 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.