Barclays Has Lowered Expectations for Qorvo (NASDAQ:QRVO) Stock Price

Qorvo (NASDAQ:QRVO) had its target price decreased by Barclays from $120.00 to $90.00 in a report released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company’s stock.

QRVO has been the topic of a number of other reports. Rosenblatt Securities lifted their price target on Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on Qorvo from $115.00 to $95.00 and set an “underweight” rating on the stock in a research report on Wednesday. Morgan Stanley downgraded Qorvo from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $130.00 to $120.00 in a research report on Friday, October 11th. BNP Paribas downgraded Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Wednesday. Finally, Bank of America cut their price objective on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.47.

Qorvo Trading Up 0.8 %

Shares of NASDAQ:QRVO opened at $71.86 on Wednesday. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -49.22, a PEG ratio of 0.88 and a beta of 1.45. Qorvo has a 52-week low of $70.39 and a 52-week high of $130.99. The business has a 50-day moving average price of $103.28 and a 200-day moving average price of $107.48. The company has a quick ratio of 1.36, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.99 earnings per share. Qorvo’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts predict that Qorvo will post 4.84 EPS for the current year.

Insider Activity

In related news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo during the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Park Place Capital Corp increased its holdings in shares of Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after buying an additional 207 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Qorvo by 9,333.3% during the second quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after buying an additional 280 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in shares of Qorvo during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

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.