ValuEngine cut shares of Qorvo (NASDAQ:QRVO) from a buy rating to a hold rating in a research note issued to investors on Saturday.

QRVO has been the subject of a number of other research reports. BidaskClub raised shares of Qorvo from a hold rating to a buy rating in a research report on Friday, August 18th. Drexel Hamilton reaffirmed a buy rating and set a $95.00 price objective on shares of Qorvo in a research report on Thursday, November 2nd. Craig Hallum cut shares of Qorvo from a buy rating to a hold rating and cut their price objective for the stock from $78.00 to $71.00 in a research report on Thursday, November 2nd. Needham & Company LLC reaffirmed a buy rating and set a $84.00 price objective on shares of Qorvo in a research report on Thursday, November 2nd. Finally, KeyCorp reaffirmed a hold rating on shares of Qorvo in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $76.74.

Shares of Qorvo (NASDAQ:QRVO) opened at $67.69 on Friday. The stock has a market cap of $8,630.81, a PE ratio of 16.97, a PEG ratio of 1.14 and a beta of 1.02. Qorvo has a 52-week low of $52.05 and a 52-week high of $81.20. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. The company had revenue of $821.60 million during the quarter, compared to analysts’ expectations of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. Qorvo’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. sell-side analysts forecast that Qorvo will post 4.74 EPS for the current year.

In other Qorvo news, VP James L. Klein sold 2,600 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $70.84, for a total transaction of $184,184.00. Following the completion of the transaction, the vice president now owns 42,993 shares of the company’s stock, valued at $3,045,624.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roderick Nelson sold 860 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $69.03, for a total value of $59,365.80. Following the transaction, the director now directly owns 3,762 shares of the company’s stock, valued at approximately $259,690.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,696 shares of company stock valued at $4,605,411. Insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of QRVO. Aperio Group LLC raised its stake in Qorvo by 23.5% during the second quarter. Aperio Group LLC now owns 23,605 shares of the semiconductor company’s stock worth $1,495,000 after acquiring an additional 4,496 shares in the last quarter. US Bancorp DE raised its stake in Qorvo by 139.8% during the second quarter. US Bancorp DE now owns 3,046 shares of the semiconductor company’s stock worth $193,000 after acquiring an additional 1,776 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Qorvo by 14.8% during the second quarter. Russell Investments Group Ltd. now owns 14,366 shares of the semiconductor company’s stock worth $909,000 after acquiring an additional 1,857 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Qorvo by 5.1% during the second quarter. Janney Montgomery Scott LLC now owns 8,282 shares of the semiconductor company’s stock worth $524,000 after acquiring an additional 400 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Qorvo by 0.8% during the second quarter. Retirement Systems of Alabama now owns 61,623 shares of the semiconductor company’s stock worth $3,902,000 after acquiring an additional 498 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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