BidaskClub upgraded shares of Qorvo (NASDAQ:QRVO) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Qorvo from a hold rating to a buy rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. set a $88.00 target price on shares of Qorvo and gave the company a buy rating in a research report on Wednesday, November 15th. Needham & Company LLC restated a buy rating and issued a $84.00 target price on shares of Qorvo in a research report on Thursday, November 2nd. Drexel Hamilton restated a buy rating and issued a $95.00 target price on shares of Qorvo in a research report on Thursday, November 2nd. Finally, Canaccord Genuity raised their price target on shares of Qorvo from $81.00 to $87.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. Qorvo has a consensus rating of Hold and a consensus price target of $80.42.
Shares of Qorvo (QRVO) traded up $1.00 during trading on Friday, reaching $77.85. 3,361,767 shares of the company’s stock were exchanged, compared to its average volume of 3,090,786. Qorvo has a 1 year low of $62.68 and a 1 year high of $85.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62. The firm has a market capitalization of $9,721.03, a price-to-earnings ratio of 389.25, a P/E/G ratio of 1.35 and a beta of 1.05.
In related news, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $71.37, for a total transaction of $428,220.00. Following the completion of the transaction, the vice president now owns 82,725 shares of the company’s stock, valued at $5,904,083.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel A. Dileo sold 2,500 shares of Qorvo stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $80.00, for a total transaction of $200,000.00. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $369,760. The disclosure for this sale can be found here. Insiders have sold 50,496 shares of company stock valued at $3,766,549 in the last ninety days. Insiders own 0.91% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norinchukin Bank The raised its stake in Qorvo by 7.4% during the fourth quarter. Norinchukin Bank The now owns 10,176 shares of the semiconductor company’s stock worth $678,000 after buying an additional 703 shares during the last quarter. American International Group Inc. raised its stake in Qorvo by 9.9% during the fourth quarter. American International Group Inc. now owns 45,705 shares of the semiconductor company’s stock worth $3,044,000 after buying an additional 4,126 shares during the last quarter. Wetherby Asset Management Inc. bought a new position in Qorvo during the fourth quarter worth $209,000. Systematic Financial Management LP raised its stake in Qorvo by 14.1% during the fourth quarter. Systematic Financial Management LP now owns 153,737 shares of the semiconductor company’s stock worth $10,239,000 after buying an additional 19,000 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Qorvo during the fourth quarter worth $337,000. 96.48% of the stock is owned by institutional investors and hedge funds.
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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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