Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) PT at $95.84

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the nineteen research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $95.84.

A number of research analysts recently commented on QRVO shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Stifel Nicolaus lowered their target price on Qorvo from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Citigroup lowered their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st.

Institutional Trading of Qorvo

Several institutional investors have recently added to or reduced their stakes in QRVO. Rakuten Securities Inc. bought a new stake in Qorvo in the fourth quarter valued at approximately $28,000. Huntington National Bank boosted its holdings in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Qorvo in the fourth quarter valued at approximately $37,000. Finally, Versant Capital Management Inc boosted its holdings in Qorvo by 89.7% in the fourth quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 286 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors.

Qorvo Stock Up 2.7 %

QRVO stock opened at $71.14 on Monday. The company has a market cap of $6.64 billion, a PE ratio of 254.07, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The business has a 50-day simple moving average of $76.99 and a 200 day simple moving average of $85.14. Qorvo has a 52 week low of $64.54 and a 52 week high of $130.99. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46.

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.