Qorvo, Inc. (NASDAQ:QRVO) had its target price increased by Morgan Stanley from $68.00 to $69.00 in a research report sent to investors on Thursday morning. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other research analysts also recently commented on QRVO. Needham & Company LLC restated a buy rating and issued a $84.00 target price on shares of Qorvo in a research note on Thursday. Drexel Hamilton reiterated a buy rating and set a $95.00 price target on shares of Qorvo in a research note on Thursday. Mizuho reiterated a hold rating and set a $70.00 price target on shares of Qorvo in a research note on Friday, August 4th. BidaskClub upgraded Qorvo from a hold rating to a buy rating in a research note on Friday, August 18th. Finally, Craig Hallum downgraded Qorvo from a buy rating to a hold rating and decreased their price target for the stock from $78.00 to $71.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $75.26.

Shares of Qorvo (NASDAQ:QRVO) traded up $4.66 during midday trading on Thursday, reaching $78.50. The company’s stock had a trading volume of 2,463,737 shares, compared to its average volume of 1,150,000. The company has a quick ratio of 2.71, a current ratio of 3.80 and a debt-to-equity ratio of 0.20. Qorvo has a 1 year low of $48.28 and a 1 year high of $79.34. The stock has a market capitalization of $9,940.00 and a P/E ratio of 18.46.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting analysts’ consensus estimates of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The firm had revenue of $821.60 million for the quarter, compared to the consensus estimate of $810.47 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. equities research analysts forecast that Qorvo will post 4.77 EPS for the current fiscal year.

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In related news, VP James L. Klein sold 1,500 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $67.67, for a total transaction of $101,505.00. Following the sale, the vice president now directly owns 41,893 shares in the company, valued at approximately $2,834,899.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $71.34, for a total value of $428,040.00. Following the sale, the vice president now owns 120,110 shares in the company, valued at $8,568,647.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,080 shares of company stock valued at $4,788,693. 0.91% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc grew its position in Qorvo by 2.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 49 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Qorvo by 0.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 62 shares during the last quarter. Federated Investors Inc. PA grew its position in Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 90 shares during the last quarter. Sentry Investment Management LLC grew its position in Qorvo by 1.4% during the 2nd quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock worth $421,000 after acquiring an additional 95 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in Qorvo by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock worth $500,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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