Qorvo, Inc. (QRVO) Rating Reiterated by Drexel Hamilton
Qorvo, Inc. (NASDAQ:QRVO)‘s stock had its “buy” rating reissued by stock analysts at Drexel Hamilton in a report released on Thursday. They currently have a $95.00 target price on the semiconductor company’s stock. Drexel Hamilton’s target price indicates a potential upside of 28.66% from the stock’s previous close.
A number of other brokerages have also commented on QRVO. Northland Securities lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a report on Thursday. Craig Hallum lowered shares of Qorvo from a “buy” rating to a “hold” rating and cut their price target for the stock from $78.00 to $71.00 in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $86.00 price target on shares of Qorvo in a report on Sunday, September 17th. Cowen and Company reiterated a “hold” rating and set a $85.00 price target on shares of Qorvo in a report on Sunday, September 17th. Finally, Instinet assumed coverage on shares of Qorvo in a report on Wednesday, September 6th. They set a “neutral” rating and a $75.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.81.
Qorvo (QRVO) opened at $73.84 on Thursday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.19 and a beta of 1.03. The company has a current ratio of 3.80, a quick ratio of 2.75 and a debt-to-equity ratio of 0.20.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. The company had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. Qorvo’s revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. research analysts expect that Qorvo will post 4.83 earnings per share for the current year.
In other news, Director John R. Harding sold 3,260 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $71.79, for a total transaction of $234,035.40. Following the transaction, the director now owns 6,322 shares in the company, valued at $453,856.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James L. Klein sold 1,500 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $67.67, for a total transaction of $101,505.00. Following the transaction, the vice president now owns 41,893 shares in the company, valued at approximately $2,834,899.31. The disclosure for this sale can be found here. Insiders have sold 67,080 shares of company stock worth $4,788,693 in the last quarter. Company insiders own 0.91% of the company’s stock.
Large investors have recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in shares of Qorvo during the third quarter worth about $130,000. Federated Investors Inc. PA increased its position in shares of Qorvo by 4.0% during the second 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 in the last quarter. NEXT Financial Group Inc increased its position in shares of Qorvo by 2.1% during the second 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Qorvo by 79.9% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of Qorvo by 5.1% during the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after acquiring an additional 126 shares in the last quarter. 94.12% of the stock is owned by institutional investors.
Qorvo Company Profile
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).
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