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

Qorvo, Inc. (NASDAQ:QRVO) has received an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $96.6250.

A number of equities analysts have recently issued reports on QRVO shares. Mizuho reiterated an “underperform” rating and issued a $66.00 price target (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Craig Hallum reiterated a “buy” rating and issued a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. Zacks Research downgraded shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a report on Friday, April 17th. Finally, UBS Group raised their target price on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th.

Insider Buying and Selling at Qorvo

In other Qorvo news, CEO Robert A. Bruggeworth sold 57,957 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $100.40, for a total value of $5,818,882.80. Following the sale, the chief executive officer owned 319,880 shares of the company’s stock, valued at $32,115,952. This represents a 15.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares in the company, valued at $567,886,431.20. This trade represents a 25.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,966,127 shares of company stock worth $198,911,103 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Qorvo

Several institutional investors and hedge funds have recently modified their holdings of the business. E20 Capital Ltd purchased a new stake in shares of Qorvo in the first quarter valued at about $21,127,000. Bank of America Corp DE lifted its holdings in shares of 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 valued at $136,795,000 after purchasing an additional 1,571,303 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Qorvo by 19.1% in the first quarter. Janus Henderson Group PLC now owns 548,859 shares of the semiconductor company’s stock valued at $42,473,000 after purchasing an additional 88,070 shares in the last quarter. Amundi lifted its holdings in shares of Qorvo by 197.2% in the first 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 in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Qorvo by 21.6% in the first quarter. California State Teachers Retirement System now owns 101,540 shares of the semiconductor company’s stock valued at $7,859,000 after purchasing an additional 18,029 shares in the last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of QRVO opened at $102.74 on Wednesday. The company has a 50-day simple moving average of $87.63 and a 200-day simple moving average of $84.71. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.04 billion, a PE ratio of 28.38, a P/E/G ratio of 1.56 and a beta of 1.43. Qorvo has a 52-week low of $74.92 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a net margin of 9.22% and a return on equity of 15.32%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts predict that Qorvo will post 5.87 earnings per share for the current fiscal year.

Qorvo Company Profile

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.