Qorvo, Inc. (NASDAQ:QRVO) had its target price boosted by Citigroup Inc. from $69.00 to $75.00 in a report published on Friday. They currently have a neutral rating on the semiconductor company’s stock.
A number of other equities research analysts also recently issued reports on QRVO. Needham & Company LLC reissued a buy rating and set a $84.00 price target on shares of Qorvo in a research report on Thursday. Morgan Stanley upped their target price on Qorvo from $68.00 to $69.00 and gave the stock an equal weight rating in a research report on Thursday. Canaccord Genuity upped their target price on Qorvo from $81.00 to $87.00 and gave the stock a buy rating in a research report on Thursday. Drexel Hamilton reaffirmed a buy rating and issued a $95.00 target price on shares of Qorvo in a research report on Thursday. Finally, Mizuho reaffirmed a hold rating and issued a $70.00 target price on shares of Qorvo in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $73.81.
Qorvo (NASDAQ QRVO) traded down $0.62 during mid-day trading on Friday, reaching $73.84. The company’s stock had a trading volume of 2,868,925 shares, compared to its average volume of 1,147,466. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.75. The stock has a market cap of $9,397.47, a PE ratio of 18.46, a P/E/G ratio of 1.19 and a beta of 1.03.
Qorvo (NASDAQ:QRVO) last posted its quarterly 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. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The firm had revenue of $821.60 million during the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. equities research analysts anticipate that Qorvo will post 4.77 EPS for the current year.
In other Qorvo news, VP James L. Klein sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was 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 $2,834,899.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James L. Klein sold 4,120 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.41, for a total value of $281,849.20. Following the sale, the vice president now owns 36,358 shares in the company, valued at approximately $2,487,250.78. The disclosure for this sale can be found here. Insiders have sold 67,080 shares of company stock worth $4,788,693 in the last 90 days. 0.91% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in QRVO. Thrivent Financial For Lutherans raised its stake in Qorvo by 1.7% during the first quarter. Thrivent Financial For Lutherans now owns 13,800 shares of the semiconductor company’s stock valued at $946,000 after buying an additional 230 shares in the last quarter. Morgan Stanley raised its position in shares of Qorvo by 54.0% during the 1st quarter. Morgan Stanley now owns 271,344 shares of the semiconductor company’s stock worth $18,604,000 after purchasing an additional 95,111 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Qorvo during the 1st quarter worth approximately $219,000. Paloma Partners Management Co acquired a new stake in shares of Qorvo during the 1st quarter worth approximately $775,000. Finally, Credit Suisse AG raised its position in shares of Qorvo by 4.3% during the 1st quarter. Credit Suisse AG now owns 259,945 shares of the semiconductor company’s stock worth $17,821,000 after purchasing an additional 10,640 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.
Qorvo Company Profile
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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