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

Qorvo, Inc. (NASDAQ:QRVO) has been assigned an average recommendation of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $95.84.

Several equities analysts have commented on QRVO shares. Benchmark reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Mizuho increased their price target on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. The Goldman Sachs Group dropped their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Citigroup decreased their price objective on Qorvo from $72.00 to $69.00 and set a “sell” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays dropped their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th.

Qorvo Stock Down 3.0 %

NASDAQ QRVO opened at $71.50 on Friday. The stock has a 50 day moving average price of $76.98 and a 200-day moving average price of $80.29. Qorvo has a one year low of $64.54 and a one year high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company has a market capitalization of $6.68 billion, a P/E ratio of 255.36, a P/E/G ratio of 15.57 and a beta of 1.48.

Institutional Investors Weigh In On Qorvo

Several large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Qorvo by 50.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,844 shares of the semiconductor company’s stock valued at $479,000 after acquiring an additional 2,292 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in Qorvo during the 4th quarter valued at $1,681,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Qorvo during the 4th quarter valued at $8,152,000. Mackenzie Financial Corp lifted its holdings in shares of Qorvo by 94.5% in the 4th quarter. Mackenzie Financial Corp now owns 46,101 shares of the semiconductor company’s stock worth $3,224,000 after buying an additional 22,398 shares during the period. Finally, Neo Ivy Capital Management bought a new position in shares of Qorvo during the 4th quarter worth $1,435,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

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.