Shares of Qorvo Inc (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the twenty-six analysts that are presently covering the firm, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $77.86.
QRVO has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of Qorvo from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Mizuho set a $70.00 price objective on shares of Qorvo and gave the company a “hold” rating in a research report on Friday, August 2nd. BidaskClub downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Qorvo in a research report on Monday, August 5th. Finally, Craig Hallum reissued a “buy” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Qorvo in a research report on Friday, August 2nd.
In other news, VP James L. Klein sold 1,914 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $76.69, for a total transaction of $146,784.66. Following the completion of the sale, the vice president now owns 51,667 shares in the company, valued at approximately $3,962,342.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Walter H. Wilkinson sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $74.25, for a total transaction of $222,750.00. Following the sale, the director now owns 39,327 shares of the company’s stock, valued at approximately $2,920,029.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,633 shares of company stock valued at $2,341,110. 0.71% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp lifted its stake in shares of Qorvo by 4.6% during the 2nd quarter. Northern Trust Corp now owns 1,623,274 shares of the semiconductor company’s stock worth $108,126,000 after buying an additional 71,067 shares during the last quarter. FMR LLC raised its stake in Qorvo by 15.5% in the 1st quarter. FMR LLC now owns 1,590,816 shares of the semiconductor company’s stock worth $114,110,000 after purchasing an additional 213,091 shares in the last quarter. Invesco Ltd. raised its stake in Qorvo by 11.3% in the 2nd quarter. Invesco Ltd. now owns 1,247,870 shares of the semiconductor company’s stock worth $83,120,000 after purchasing an additional 126,839 shares in the last quarter. Fisher Asset Management LLC raised its stake in Qorvo by 3.6% in the 2nd quarter. Fisher Asset Management LLC now owns 1,137,530 shares of the semiconductor company’s stock worth $75,771,000 after purchasing an additional 39,136 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Qorvo by 3.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 926,329 shares of the semiconductor company’s stock worth $61,703,000 after purchasing an additional 27,999 shares in the last quarter. Institutional investors own 91.19% of the company’s stock.
Qorvo stock traded up $0.85 during mid-day trading on Friday, reaching $77.65. The company’s stock had a trading volume of 3,349 shares, compared to its average volume of 1,096,826. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. Qorvo has a 12 month low of $54.74 and a 12 month high of $78.98. The business’s 50 day simple moving average is $74.13 and its 200 day simple moving average is $71.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.30 and a current ratio of 3.44.
Qorvo (NASDAQ:QRVO) last released its earnings results on Thursday, August 1st. The semiconductor company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.23. The business had revenue of $775.60 million during the quarter, compared to the consensus estimate of $738.98 million. Qorvo had a net margin of 6.39% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, sell-side analysts expect that Qorvo will post 4.3 EPS for the current year.
Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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