Qorvo (NASDAQ:QRVO) Price Target Cut to $100.00 by Analysts at Barclays

Qorvo (NASDAQ:QRVO) had its target price decreased by Barclays from $110.00 to $100.00 in a report issued on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company’s stock.

QRVO has been the topic of a number of other reports. StockNews.com lowered Qorvo from a buy rating to a hold rating in a research report on Thursday, February 8th. Rosenblatt Securities lifted their price objective on Qorvo from $95.00 to $105.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. cut their target price on shares of Qorvo from $105.00 to $100.00 and set an underweight rating on the stock in a research report on Thursday. Mizuho lowered their price target on shares of Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a research report on Thursday. Finally, Benchmark cut their price objective on shares of Qorvo from $136.00 to $128.00 and set a buy rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $110.83.

Qorvo Trading Up 0.3 %

Shares of QRVO stock opened at $95.95 on Thursday. Qorvo has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. The stock’s fifty day moving average is $113.15 and its 200-day moving average is $105.78.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently bought and sold shares of QRVO. Park Place Capital Corp grew its stake in shares of Qorvo by 398.1% during the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares in the last quarter. Riverview Trust Co bought a new position in Qorvo in the first quarter valued at $40,000. Fidelis Capital Partners LLC acquired a new stake in Qorvo in the 1st quarter valued at $58,000. Huntington National Bank lifted 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 worth $78,000 after buying an additional 809 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Qorvo during the 4th quarter worth about $104,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

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.