Qorvo (NASDAQ:QRVO) PT Lowered to $110.00 at Needham & Company LLC

Qorvo (NASDAQ:QRVO) had its price target decreased by Needham & Company LLC from $125.00 to $110.00 in a research report report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other brokerages also recently issued reports on QRVO. JPMorgan Chase & Co. raised their price target on Qorvo from $95.00 to $105.00 and gave the company an underweight rating in a research report on Thursday, February 1st. Susquehanna reaffirmed a neutral rating and issued a $100.00 target price on shares of Qorvo in a report on Monday, April 8th. Rosenblatt Securities upped their price target on Qorvo from $95.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, February 1st. The Goldman Sachs Group raised their price objective on shares of Qorvo from $104.00 to $117.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. Finally, Barclays upped their target price on shares of Qorvo from $95.00 to $100.00 and gave the company an equal weight rating in a research note on Tuesday, January 16th. Two 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $110.83.

Qorvo Stock Up 0.3 %

Shares of NASDAQ QRVO traded up $0.28 during mid-day trading on Thursday, reaching $95.95. 2,424,521 shares of the company traded hands, compared to its average volume of 1,436,907. The company’s fifty day moving average is $113.15 and its two-hundred day moving average is $105.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.33 and a current ratio of 1.99. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $121.65.

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

Insider Buying and Selling at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of Qorvo stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now owns 77,552 shares in the company, valued at $9,306,240. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock worth $745,434 over the last three months. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently bought and sold shares of the business. RIA Advisory Group LLC acquired a new position in Qorvo in the first quarter worth $295,000. Daiwa Securities Group Inc. raised its holdings in shares of Qorvo by 44.4% in the first quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after buying an additional 4,072 shares during the last quarter. Nordea Investment Management AB lifted its position in Qorvo by 1.2% during the 1st quarter. Nordea Investment Management AB now owns 373,914 shares of the semiconductor company’s stock worth $42,974,000 after buying an additional 4,257 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Qorvo during the 1st quarter worth about $58,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Qorvo by 13.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,708 shares of the semiconductor company’s stock valued at $311,000 after acquiring an additional 315 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

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.