Drexel Hamilton reiterated their buy rating on shares of Qorvo, Inc. (NASDAQ:QRVO) in a research note published on Thursday. The brokerage currently has a $95.00 price target on the semiconductor company’s stock.
QRVO has been the topic of a number of other reports. BidaskClub raised shares of Qorvo from a hold rating to a buy rating in a report on Friday, August 18th. Craig Hallum cut shares of Qorvo from a buy rating to a hold rating and dropped their target price for the company from $78.00 to $71.00 in a report on Thursday. KeyCorp reaffirmed a hold rating on shares of Qorvo in a report on Wednesday, October 11th. Canaccord Genuity upped their target price on shares of Qorvo from $79.00 to $81.00 and gave the company a buy rating in a report on Thursday, August 3rd. Finally, TheStreet cut shares of Qorvo from a b rating to a c rating in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $73.81.
Shares of Qorvo (NASDAQ:QRVO) traded down $0.62 during mid-day trading on Thursday, reaching $73.84. 2,868,925 shares of the company traded hands, compared to its average volume of 1,147,466. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.75 and a current ratio of 3.80. The company has a market capitalization of $9.46 billion, a PE ratio of 18.58, a P/E/G ratio of 1.19 and a beta of 1.03.
Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. The company had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. Qorvo’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. analysts forecast that Qorvo will post 4.83 EPS for the current fiscal year.
In related news, VP James L. Klein sold 1,500 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $67.67, for a total transaction of $101,505.00. Following the sale, the vice president now owns 41,893 shares in the company, valued at approximately $2,834,899.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $71.34, for a total transaction of $428,040.00. Following the sale, the vice president now owns 120,110 shares in the company, valued at approximately $8,568,647.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,080 shares of company stock worth $4,788,693. Company insiders own 0.91% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC acquired a new stake in shares of Qorvo during the 3rd quarter worth approximately $130,000. Federated Investors Inc. PA boosted its position in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 90 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Qorvo by 2.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 49 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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