Qorvo (NASDAQ:QRVO) PT Lowered to $128.00

Qorvo (NASDAQ:QRVO) had its price objective lowered by stock analysts at Benchmark from $136.00 to $128.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 33.40% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Needham & Company LLC lowered their price target on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Rosenblatt Securities increased their price target on shares of Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Susquehanna lowered their price target on shares of Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a 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 report on Thursday. Finally, StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus target price of $110.83.

Qorvo Price Performance

Shares of Qorvo stock traded up $0.28 during trading on Thursday, reaching $95.95. 2,424,521 shares of the stock traded hands, compared to its average volume of 1,436,907. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of -131.44, a P/E/G ratio of 0.74 and a beta of 1.53. The business has a fifty day simple moving average of $113.15 and a two-hundred day simple moving average of $105.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.33. Qorvo has a 52-week low of $80.62 and a 52-week high of $121.65.

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

Insider Transactions at Qorvo

In other Qorvo 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 transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Qorvo 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 transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares in the company, valued at $9,306,240. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,381 shares of company stock valued at $745,434. 0.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Qorvo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Qorvo by 646.2% during the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after buying an additional 3,347,972 shares during the last quarter. FIL Ltd grew its holdings in shares of Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after buying an additional 120,213 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Qorvo by 18.9% during the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock valued at $189,964,000 after buying an additional 316,328 shares during the last quarter. Boston Partners grew its holdings in shares of Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock valued at $161,726,000 after buying an additional 6,558 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after buying an additional 1,053,157 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.