BidaskClub cut shares of Qorvo (NASDAQ:QRVO) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.

A number of other equities analysts also recently commented on the company. ValuEngine downgraded Qorvo from a buy rating to a hold rating in a report on Saturday. J P Morgan Chase & Co set a $88.00 price objective on Qorvo and gave the stock a buy rating in a report on Wednesday, November 15th. Citigroup increased their price objective on Qorvo from $69.00 to $75.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Canaccord Genuity increased their price objective on Qorvo from $81.00 to $87.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Finally, Morgan Stanley increased their price objective on Qorvo from $68.00 to $69.00 and gave the stock an equal weight rating in a report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $76.74.

Qorvo (QRVO) opened at $67.69 on Tuesday. The firm has a market capitalization of $8,724.90, a PE ratio of 17.16, a PEG ratio of 1.16 and a beta of 1.02. Qorvo has a twelve month low of $52.05 and a twelve month high of $81.20. 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 (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting 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 prior year, the company posted $1.29 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. sell-side analysts forecast that Qorvo will post 4.74 earnings per share for the current fiscal year.

In related news, VP James L. Klein sold 2,600 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $70.84, for a total value of $184,184.00. Following the completion of the transaction, the vice president now directly owns 42,993 shares of the company’s stock, valued at $3,045,624.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roderick Nelson sold 860 shares of the stock in a transaction on 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 owns 3,762 shares of the company’s stock, valued at $259,690.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,696 shares of company stock valued at $4,605,411. 0.91% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Qorvo by 0.7% during the second 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 in the last quarter. Federated Investors Inc. PA raised its stake in 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. Sentry Investment Management LLC raised its stake in Qorvo by 1.4% during the second 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 in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Qorvo by 1.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,526 shares of the semiconductor company’s stock worth $477,000 after acquiring an additional 111 shares in the last quarter. Finally, Advisor Group Inc. increased its stake in shares of Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.

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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).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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