Qorvo, Inc. (NASDAQ:QRVO) Stock Has Average Price Target of $94.00

Qorvo, Inc. (NASDAQ:QRVO) has earned a consensus rating of “Hold” from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $94.00.

Several analysts recently issued reports on the company. Citigroup decreased their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Finally, UBS Group boosted their price target on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th.

Qorvo Trading Up 1.7%

Shares of Qorvo stock opened at $114.17 on Tuesday. Qorvo has a fifty-two week low of $74.92 and a fifty-two week high of $121.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54. The company has a market capitalization of $10.07 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.98 and a beta of 1.42. The company has a fifty day moving average of $102.98 and a 200 day moving average of $94.09.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts anticipate that Qorvo will post 6.42 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In related news, SVP Paul J. Fego sold 2,500 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $114.11, for a total value of $285,275.00. Following the completion of the transaction, the senior vice president directly owned 74,460 shares of the company’s stock, valued at approximately $8,496,630.60. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Steven E. Creviston sold 4,810 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $116.56, for a total transaction of $560,653.60. Following the sale, the senior vice president directly owned 114,641 shares in the company, valued at approximately $13,362,554.96. The trade was a 4.03% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 62,309 shares of company stock valued at $6,304,642. 0.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Qorvo

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in shares of Qorvo in the 2nd quarter valued at about $32,000. Elevation Wealth Partners LLC increased its position in shares of Qorvo by 301.0% during the 2nd 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. Ameritas Advisory Services LLC bought a new position in shares of Qorvo during the 2nd quarter valued at approximately $43,000. Transamerica Financial Advisors LLC purchased a new stake in Qorvo during the 2nd quarter valued at $52,000. Finally, Root Financial Partners LLC raised its holdings in Qorvo by 160.1% during the 1st quarter. Root Financial Partners LLC now owns 718 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 442 shares during the period. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company Profile

Qorvo, Inc is a semiconductor company that develops radio-frequency (RF) and power-management solutions for connected devices and electronic systems. Its products help transmit, receive, amplify, filter and manage wireless signals across a range of communications and industrial applications.

The company provides RF modules, integrated circuits, discrete components, filters, amplifiers, switches and related technologies. These products support smartphones and other mobile devices, wireless infrastructure, Wi-Fi and broadband equipment, automotive systems, the Internet of Things, consumer electronics, and aerospace and defense applications.

Qorvo was formed in 2015 through the merger of RF Micro Devices and TriQuint Semiconductor.