Qorvo (NASDAQ:QRVO) Price Target Lowered to $100.00 at JPMorgan Chase & Co.

Qorvo (NASDAQ:QRVO) had its target price decreased by JPMorgan Chase & Co. from $105.00 to $100.00 in a research note issued to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Qorvo from $120.00 to $105.00 and set a neutral rating on the stock in a research note on Thursday, February 1st. Benchmark lowered their price target on Qorvo from $136.00 to $128.00 and set a buy rating for the company in a research note on Thursday. Barclays upped their price target on Qorvo from $95.00 to $100.00 and gave the stock an equal weight rating in a research note on Tuesday, January 16th. Rosenblatt Securities upped their target price on shares of Qorvo from $95.00 to $105.00 and gave the company a neutral rating in a research note on Thursday, February 1st. Finally, Raymond James boosted their price target on shares of Qorvo from $115.00 to $120.00 and gave the company an outperform rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $110.83.

Qorvo Stock Performance

Shares of NASDAQ QRVO traded up $0.28 during midday trading on Thursday, reaching $95.95. 2,424,505 shares of the company traded hands, compared to its average volume of 1,346,378. The company has a market cap of $9.26 billion, a price-to-earnings ratio of -131.44, a PEG ratio of 0.86 and a beta of 1.53. The stock has a 50-day moving average price of $113.49 and a 200 day moving average price of $105.57. Qorvo has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.90 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. The company had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $927.24 million. Qorvo had a positive return on equity of 13.25% and a negative net margin of 1.86%. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. Sell-side analysts anticipate that Qorvo will post 6.69 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the completion of the sale, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Qorvo news, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares in the company, valued at $2,102,388. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The disclosure for this sale can be found here. Insiders sold a total of 6,381 shares of company stock worth $745,434 in the last quarter. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qorvo

Institutional investors have recently bought and sold shares of the company. Park Place Capital Corp raised its holdings in shares of Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 207 shares during the last quarter. Riverview Trust Co bought a new position in shares of Qorvo in the 1st quarter valued at about $40,000. Fidelis Capital Partners LLC acquired a new stake in shares of Qorvo in the first quarter valued at about $58,000. Huntington National Bank boosted its position in Qorvo by 8,090.0% during the third quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 809 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Qorvo in the 4th quarter valued at approximately $104,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.