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

Qorvo (NASDAQ:QRVO) had its price objective cut by stock analysts at Stifel Nicolaus from $95.00 to $90.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 4.92% from the company’s current price.

QRVO has been the topic of several other research reports. The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Qorvo in a report on Wednesday. Loop Capital assumed coverage on shares of Qorvo in a report on Monday, November 11th. They issued a “hold” rating and a $73.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Qorvo in a report on Wednesday. Finally, Mizuho increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.95.

Qorvo Trading Down 2.1 %

Shares of Qorvo stock opened at $85.78 on Wednesday. The firm has a market capitalization of $8.11 billion, a PE ratio of -58.75, a price-to-earnings-growth ratio of 6.98 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The company’s fifty day moving average price is $73.00 and its two-hundred day moving average price is $91.88. Qorvo has a 52-week low of $64.54 and a 52-week high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, analysts expect that Qorvo will post 3.37 EPS for the current year.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Qorvo

A number of hedge funds have recently modified their holdings of the company. Stephens Inc. AR raised its position in shares of Qorvo by 4.5% in the 4th quarter. Stephens Inc. AR now owns 8,300 shares of the semiconductor company’s stock valued at $580,000 after acquiring an additional 358 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in Qorvo during the 4th quarter worth approximately $784,000. Entropy Technologies LP raised its holdings in Qorvo by 148.2% during the 4th quarter. Entropy Technologies LP now owns 58,192 shares of the semiconductor company’s stock worth $4,069,000 after buying an additional 34,749 shares during the period. Empowered Funds LLC raised its holdings in Qorvo by 64.5% during the 4th quarter. Empowered Funds LLC now owns 18,727 shares of the semiconductor company’s stock worth $1,310,000 after buying an additional 7,340 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in Qorvo during the 4th quarter worth approximately $70,000. 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.