Qorvo (NASDAQ:QRVO) PT Lowered to $95.00

Qorvo (NASDAQ:QRVO) had its price objective reduced by Susquehanna from $100.00 to $95.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Qorvo from $95.00 to $105.00 and gave the company an underweight rating in a report on Thursday, February 1st. Piper Sandler reduced their price objective on Qorvo from $120.00 to $105.00 and set a neutral rating for the company in a research note on Thursday, February 1st. Needham & Company LLC lowered their target price on Qorvo from $125.00 to $110.00 and set a buy rating on the stock in a research report on Thursday. The Goldman Sachs Group boosted their price target on Qorvo from $104.00 to $117.00 and gave the company a neutral rating in a report on Thursday, February 1st. Finally, Craig Hallum raised their price objective on Qorvo from $110.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Qorvo currently has a consensus rating of Hold and an average price target of $110.83.

Qorvo Stock Performance

Shares of QRVO stock traded up $0.28 on Thursday, reaching $95.95. The stock had a trading volume of 2,424,521 shares, compared to its average volume of 1,436,907. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.33 and a current ratio of 1.99. Qorvo has a 1 year low of $80.62 and a 1 year high of $121.65. The stock has a market cap of $9.26 billion, a P/E ratio of -131.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53. The company has a 50 day simple moving average of $113.15 and a 200 day simple moving average of $105.59.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 48.7% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. Equities research analysts expect that Qorvo will post 6.69 EPS for the current year.

Insider Buying and Selling at Qorvo

In related news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the sale, the senior vice president now owns 77,552 shares in the company, valued at approximately $9,306,240. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 in the last quarter. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Qorvo

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after purchasing an additional 3,347,972 shares during the last quarter. FIL Ltd raised its holdings in shares of Qorvo by 4.5% in the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after buying an additional 120,213 shares during the period. Invesco Ltd. raised its holdings in shares of Qorvo by 18.9% in the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after buying an additional 316,328 shares during the period. Boston Partners grew its position in Qorvo by 0.5% in the 4th quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock valued at $161,726,000 after acquiring an additional 6,558 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after purchasing an additional 1,053,157 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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.