Qorvo, Inc. (NASDAQ:QRVO) Receives Consensus Rating of “Hold” from Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have earned a consensus rating of “Hold” from the twenty research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $97.0667.

A number of brokerages recently commented on QRVO. Craig Hallum restated a “buy” rating and issued a $120.00 price objective on shares of Qorvo in a research report on Wednesday, May 6th. Mizuho reissued an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Zacks Research downgraded Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a report on Monday, April 27th.

Qorvo Stock Performance

NASDAQ:QRVO opened at $85.72 on Thursday. The firm’s fifty day moving average price is $94.91 and its 200 day moving average price is $86.51. Qorvo has a 1-year low of $74.92 and a 1-year high of $109.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.34 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. Qorvo’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts expect that Qorvo will post 5.83 EPS for the current year.

Insider Activity at Qorvo

In related news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president owned 71,038 shares in the company, valued at $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Feld sold 1,900,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the sale, the director directly owned 5,611,526 shares in the company, valued at approximately $567,886,431.20. This represents a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,966,127 shares of company stock valued at $198,911,103 over the last 90 days. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stance Capital LLC purchased a new position in Qorvo in the 3rd quarter valued at approximately $27,000. Smartleaf Asset Management LLC boosted its position in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC boosted its position in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 343 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Qorvo in the third quarter valued at $36,000. Finally, Elevation Wealth Partners LLC grew its holdings in Qorvo by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 310 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.