Brokerages Set Qorvo Inc (QRVO) Target Price at $76.00
Qorvo Inc (NASDAQ:QRVO) has been assigned a consensus rating of “Hold” from the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. Fourteen research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $76.00.
A number of analysts have weighed in on QRVO shares. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Qorvo from a “sell” rating to a “hold” rating in a research note on Monday, January 14th. Goldman Sachs Group upgraded Qorvo from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $79.00 in a research note on Thursday, March 21st. Morgan Stanley cut their price target on Qorvo from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $75.00 price target on shares of Qorvo in a research note on Friday, February 8th.
In other news, VP James L. Klein sold 1,914 shares of Qorvo stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $77.16, for a total transaction of $147,684.24. Following the sale, the vice president now owns 45,374 shares in the company, valued at $3,501,057.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $74.90, for a total value of $224,700.00. Following the transaction, the vice president now directly owns 52,006 shares in the company, valued at approximately $3,895,249.40. The disclosure for this sale can be found here. Insiders have sold 228,295 shares of company stock worth $15,753,409 in the last quarter. Insiders own 0.85% of the company’s stock.
Qorvo stock traded up $0.12 during midday trading on Friday, reaching $76.68. The company’s stock had a trading volume of 934,609 shares, compared to its average volume of 995,403. Qorvo has a fifty-two week low of $54.74 and a fifty-two week high of $86.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.90 and a quick ratio of 2.78. The stock has a market cap of $9.42 billion, a PE ratio of 16.04, a P/E/G ratio of 1.40 and a beta of 0.91.
Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.30. Qorvo had a return on equity of 14.11% and a net margin of 1.92%. The company had revenue of $832.20 million for the quarter, compared to analysts’ expectations of $819.21 million. During the same period last year, the firm earned $1.69 earnings per share. Qorvo’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts expect that Qorvo will post 5.03 earnings per share for the current fiscal year.
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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