Qorvo Inc (NASDAQ:QRVO) has been assigned an average rating of “Hold” from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $75.62.

QRVO has been the topic of several analyst reports. BidaskClub cut Qorvo from a “hold” rating to a “sell” rating in a research note on Wednesday, February 20th. JPMorgan Chase & Co. set a $98.00 price objective on Qorvo and gave the company a “buy” rating in a research note on Wednesday, December 12th. 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 increased their price objective for the company from $66.00 to $79.00 in a research note on Thursday, March 21st. Finally, Morgan Stanley reduced their price objective 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.

Shares of NASDAQ QRVO traded down $0.58 during mid-day trading on Wednesday, hitting $70.57. The company had a trading volume of 826,900 shares, compared to its average volume of 1,293,154. The stock has a market cap of $8.65 billion, a P/E ratio of 14.76, a PEG ratio of 1.30 and a beta of 0.90. The company has a current ratio of 3.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.16. Qorvo has a 1-year low of $54.74 and a 1-year high of $86.50.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Thursday, February 7th. The semiconductor company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.30. The business had revenue of $832.20 million for the quarter, compared to analysts’ expectations of $819.21 million. Qorvo had a return on equity of 14.11% and a net margin of 1.92%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.69 earnings per share. On average, equities analysts forecast that Qorvo will post 5.03 EPS for the current fiscal year.

In related news, VP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $65.00, for a total value of $195,000.00. Following the transaction, the vice president now owns 58,006 shares of the company’s stock, valued at $3,770,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gina Harrison sold 1,016 shares of the stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $70.00, for a total value of $71,120.00. Following the completion of the transaction, the vice president now directly owns 17,004 shares in the company, valued at approximately $1,190,280. The disclosure for this sale can be found here. Insiders sold 223,381 shares of company stock worth $15,381,024 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Diversified Trust Co purchased a new position in shares of Qorvo during the fourth quarter worth about $263,000. Fisher Asset Management LLC grew its holdings in shares of Qorvo by 13.9% during the fourth quarter. Fisher Asset Management LLC now owns 1,052,049 shares of the semiconductor company’s stock worth $63,891,000 after purchasing an additional 128,184 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in shares of Qorvo by 169.6% during the third quarter. Standard Life Aberdeen plc now owns 80,513 shares of the semiconductor company’s stock worth $6,191,000 after purchasing an additional 50,650 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Qorvo by 11.7% during the fourth quarter. State of Alaska Department of Revenue now owns 39,772 shares of the semiconductor company’s stock worth $2,413,000 after purchasing an additional 4,180 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Qorvo during the third quarter worth about $322,000. 95.31% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Company Profile

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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