Qorvo (NASDAQ:QRVO) PT Lowered to $95.00

Qorvo (NASDAQ:QRVO) had its price target lowered by investment analysts at Susquehanna from $100.00 to $95.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s target price points to a potential downside of 0.99% from the company’s previous close.

Several other analysts have also recently weighed in on QRVO. Craig Hallum lifted their price objective on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Needham & Company LLC dropped their price target on shares of Qorvo from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday. Barclays increased their price target on Qorvo from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Piper Sandler dropped their price objective on Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, February 1st. Finally, Mizuho cut their target price on Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average target price of $110.83.

Qorvo Stock Performance

QRVO stock traded up $0.28 during mid-day trading on Thursday, hitting $95.95. 2,424,521 shares of the company were exchanged, compared to its average volume of 1,436,907. Qorvo has a 1-year low of $80.62 and a 1-year high of $121.65. The business has a 50 day simple moving average of $113.15 and a 200-day simple moving average of $105.59. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $9.26 billion, a PE ratio of -131.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The firm’s quarterly revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. On average, equities analysts forecast that Qorvo will post 6.69 earnings per share for the current year.

Insider Activity at Qorvo

In other news, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders have sold a total of 6,381 shares of company stock worth $745,434 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. Park Place Capital Corp raised its position in Qorvo by 398.1% in the 1st quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 207 shares during the last quarter. Riverview Trust Co bought a new position in shares of Qorvo during the first quarter valued at about $40,000. Fidelis Capital Partners LLC purchased a new position in Qorvo during the first quarter worth about $58,000. Huntington National Bank grew its position in Qorvo by 8,090.0% in the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 809 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Qorvo in the 4th quarter valued at about $104,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

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.