Benchmark Trims Qorvo (NASDAQ:QRVO) Target Price to $128.00

Qorvo (NASDAQ:QRVO) had its target price cut by Benchmark from $136.00 to $128.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages have also issued reports on QRVO. Mizuho cut their target price on Qorvo from $115.00 to $105.00 and set a neutral rating on the stock in a research report on Thursday. Raymond James raised their price objective on shares of Qorvo from $115.00 to $120.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. The Goldman Sachs Group raised their target price on Qorvo from $104.00 to $117.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. Barclays raised their price objective on Qorvo from $95.00 to $100.00 and gave the stock an equal weight rating in a research report on Tuesday, January 16th. Finally, Susquehanna dropped their target price on Qorvo from $100.00 to $95.00 and set a neutral rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $110.83.

Qorvo Price Performance

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

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

Insider Buying and Selling at Qorvo

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

Institutional Inflows and Outflows

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