Qorvo (NASDAQ:QRVO) PT Lowered to $100.00

Qorvo (NASDAQ:QRVO) had its target price reduced by analysts at JPMorgan Chase & Co. from $105.00 to $100.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the semiconductor company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 3.72% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Mizuho cut their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday. Benchmark dropped their price objective on shares of Qorvo from $136.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday. Rosenblatt Securities boosted their price objective on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com cut shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Finally, The Goldman Sachs Group upped their target price on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Qorvo has a consensus rating of “Hold” and a consensus target price of $111.50.

Qorvo Trading Down 13.8 %

NASDAQ:QRVO traded down $15.48 during mid-day trading on Thursday, reaching $96.41. The company’s stock had a trading volume of 3,529,261 shares, compared to its average volume of 1,304,208. The stock has a market cap of $9.31 billion, a P/E ratio of -44.55, a P/E/G ratio of 0.93 and a beta of 1.53. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33. The company’s fifty day simple moving average is $113.84 and its two-hundred day simple moving average is $105.64.

Qorvo (NASDAQ:QRVO) last released 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 positive return on equity of 10.41% and a negative net margin of 6.11%. The business had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. During the same period in the previous year, the company posted $0.11 EPS. The company’s revenue was up 48.7% compared to the same quarter last year. On average, equities analysts predict that Qorvo will post 4.95 EPS for the current year.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on 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 of the company’s stock, valued at approximately $2,102,388. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the 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 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 can be accessed through this hyperlink. Also, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,381 shares of company stock worth $745,434. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QRVO. Daiwa Securities Group Inc. lifted its position in shares of Qorvo by 44.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock worth $1,521,000 after buying an additional 4,072 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Qorvo by 1.2% during the first quarter. Nordea Investment Management AB now owns 373,914 shares of the semiconductor company’s stock valued at $42,974,000 after acquiring an additional 4,257 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at $58,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Qorvo by 13.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,708 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 315 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its position in shares of Qorvo by 10.1% during the 1st quarter. Resonant Capital Advisors LLC now owns 2,452 shares of the semiconductor company’s stock worth $282,000 after purchasing an additional 225 shares in the last quarter. 88.57% of the stock is owned by institutional investors.

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.