BidaskClub Downgrades Qorvo (QRVO) to Sell

Qorvo (NASDAQ:QRVO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Several other research firms have also recently commented on QRVO. J P Morgan Chase & Co set a $88.00 target price on shares of Qorvo and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of Qorvo in a research report on Thursday, November 2nd. Drexel Hamilton reissued a “buy” rating and set a $95.00 target price on shares of Qorvo in a research report on Thursday, November 2nd. Northland Securities cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Finally, Craig Hallum cut shares of Qorvo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $78.00 to $71.00 in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Qorvo presently has a consensus rating of “Hold” and an average price target of $76.74.

Qorvo (NASDAQ QRVO) opened at $71.78 on Wednesday. Qorvo has a 1 year low of $52.05 and a 1 year high of $81.20. The firm has a market cap of $9,250.00 and a PE ratio of 18.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.52. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. During the same quarter last year, the firm earned $1.29 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. equities analysts expect that Qorvo will post 4.74 earnings per share for the current year.

In related news, VP James L. Klein sold 2,211 shares of Qorvo stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $74.76, for a total value of $165,294.36. Following the sale, the vice president now owns 42,604 shares of the company’s stock, valued at approximately $3,185,075.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter H. Wilkinson sold 15,925 shares of Qorvo stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the completion of the transaction, the director now owns 62,480 shares of the company’s stock, valued at $4,999,649.60. The disclosure for this sale can be found here. Insiders sold a total of 65,536 shares of company stock worth $4,963,880 in the last ninety days. 0.91% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in QRVO. Alyeska Investment Group L.P. purchased a new position in Qorvo in the 3rd quarter valued at approximately $118,506,000. Manning & Napier Advisors LLC grew its stake in Qorvo by 52.5% in the 3rd quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after buying an additional 840,755 shares in the last quarter. Vanguard Group Inc. grew its stake in Qorvo by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,549,555 shares of the semiconductor company’s stock valued at $794,638,000 after buying an additional 430,596 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Qorvo in the 2nd quarter valued at approximately $18,990,000. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in Qorvo by 113.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 374,721 shares of the semiconductor company’s stock valued at $26,484,000 after buying an additional 198,856 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.com-unik.info/2017/12/06/bidaskclub-downgrades-qorvo-qrvo-to-sell.html.

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).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

What are top analysts saying about Qorvo Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Qorvo Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit