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.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QRVO. Oregon Public Employees Retirement Fund grew its holdings in shares of Qorvo by 8,987.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,660,561 shares of the semiconductor company’s stock worth $60,000 after buying an additional 3,620,278 shares during the last quarter. Norges Bank purchased a new position in shares of Qorvo during the fourth quarter worth about $91,781,000. Rehmann Capital Advisory Group grew its holdings in shares of Qorvo by 1,736,909.1% during the third quarter. Rehmann Capital Advisory Group now owns 191,071 shares of the semiconductor company’s stock worth $2,485,000 after buying an additional 191,060 shares during the last quarter. Marshall Wace North America L.P. grew its holdings in shares of Qorvo by 574.2% during the third quarter. Marshall Wace North America L.P. now owns 209,034 shares of the semiconductor company’s stock worth $16,073,000 after buying an additional 178,030 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Qorvo by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,441,062 shares of the semiconductor company’s stock worth $87,523,000 after buying an additional 175,203 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

About Qorvo

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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Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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