Qorvo, Inc. (NASDAQ:QRVO) Given Average Rating of “Hold” by Analysts

Qorvo, Inc. (NASDAQ:QRVO) has earned a consensus rating of “Hold” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $94.00.

A number of research firms recently weighed in on QRVO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research note on Friday, July 24th. TD Cowen reissued a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. UBS Group boosted their price objective 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. Citigroup lowered their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd.

Insider Buying and Selling

In other news, SVP Steven E. Creviston sold 4,810 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.87, for a total value of $485,184.70. Following the sale, the senior vice president directly owned 119,451 shares in the company, valued at approximately $12,049,022.37. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Grant Brown sold 5,179 shares of Qorvo stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $97.50, for a total transaction of $504,952.50. Following the completion of the transaction, the chief financial officer directly owned 49,268 shares in the company, valued at approximately $4,803,630. The trade was a 9.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,999 shares of company stock valued at $5,458,714 over the last three months. Corporate insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Qorvo by 801.4% in the first quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company’s stock worth $136,795,000 after acquiring an additional 1,571,303 shares in the last quarter. LSV Asset Management increased its holdings in shares of Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after acquiring an additional 34,605 shares in the last quarter. Amundi raised its position in shares of Qorvo by 197.2% in the 1st quarter. Amundi now owns 772,352 shares of the semiconductor company’s stock valued at $59,780,000 after purchasing an additional 512,475 shares during the last quarter. Fieldview Capital Management LLC boosted its stake in Qorvo by 570.1% in the 4th quarter. Fieldview Capital Management LLC now owns 24,352 shares of the semiconductor company’s stock worth $2,058,000 after purchasing an additional 20,718 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Qorvo in the 2nd quarter worth approximately $1,866,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of NASDAQ:QRVO opened at $104.07 on Friday. The firm has a market cap of $9.18 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.81 and a beta of 1.45. The firm’s 50 day simple moving average is $92.49 and its 200-day simple moving average is $89.78. Qorvo has a one year low of $74.92 and a one year high of $109.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.68 and a current ratio of 3.54.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.53. The company had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.Qorvo’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts predict that Qorvo will post 6.3 EPS for the current year.

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.