Analysts Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $108.95

Qorvo, Inc. (NASDAQ:QRVO) has earned an average recommendation of “Hold” from the nineteen research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $108.33.

A number of equities analysts have recently issued reports on QRVO shares. Morgan Stanley raised their price objective on Qorvo from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Citigroup downgraded shares of Qorvo from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $116.00 to $78.00 in a research note on Tuesday, October 10th. Susquehanna lowered their target price on shares of Qorvo from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. BMO Capital Markets lowered their price objective on Qorvo from $110.00 to $100.00 and set a “market perform” rating for the company in a research report on Friday, November 3rd. Finally, Summit Insights lowered Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd.

Qorvo Stock Up 1.1 %

Shares of NASDAQ:QRVO opened at $95.14 on Tuesday. Qorvo has a 12-month low of $80.62 and a 12-month high of $114.59. The company has a quick ratio of 2.12, a current ratio of 3.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $9.26 billion, a P/E ratio of -95.14, a P/E/G ratio of 2.10 and a beta of 1.48. The business has a fifty day simple moving average of $92.14 and a 200 day simple moving average of $98.02.

Insider Transactions at Qorvo

In other Qorvo news, Director Roderick Nelson sold 2,067 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $106.60, for a total transaction of $220,342.20. Following the completion of the sale, the director now directly owns 7,727 shares of the company’s stock, valued at approximately $823,698.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Qorvo

Several institutional investors have recently bought and sold shares of QRVO. Financial Gravity Asset Management Inc. bought a new stake in shares of Qorvo in the 2nd quarter worth $377,000. Parkside Financial Bank & Trust grew its position in Qorvo by 106.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 225 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 116 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Qorvo by 75.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 306 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 132 shares in the last quarter. Resurgent Financial Advisors LLC bought a new stake in Qorvo in the 4th quarter worth about $34,000. Finally, Bartlett & Co. LLC bought a new position in shares of Qorvo in the second quarter valued at approximately $43,000. Institutional investors own 85.60% of the company’s stock.

Qorvo Company Profile

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.