Qorvo Inc (NASDAQ:QRVO)’s share price reached a new 52-week low on Thursday . The stock traded as low as $60.79 and last traded at $62.13, with a volume of 126761 shares trading hands. The stock had previously closed at $64.16.

Several equities analysts have weighed in on the stock. Canaccord Genuity dropped their target price on shares of Qorvo from $90.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Loop Capital dropped their target price on shares of Qorvo to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Zacks Investment Research downgraded shares of Qorvo from a “buy” rating to a “sell” rating in a report on Thursday, November 15th. Cowen restated a “market perform” rating and set a $71.00 target price (down from $75.00) on shares of Qorvo in a report on Thursday, November 29th. Finally, Morgan Stanley dropped their target price on shares of Qorvo from $75.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.38.

The firm has a market capitalization of $7.83 billion, a P/E ratio of 12.79, a PEG ratio of 1.07 and a beta of 0.88. The company has a current ratio of 3.50, a quick ratio of 2.48 and a debt-to-equity ratio of 0.16.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, October 31st. The semiconductor company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.13. The business had revenue of $884.40 million during the quarter, compared to the consensus estimate of $855.57 million. Qorvo had a negative net margin of 1.41% and a positive return on equity of 13.65%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. Analysts expect that Qorvo Inc will post 5.32 EPS for the current fiscal year.

In related news, VP James L. Klein sold 2,093 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $77.19, for a total value of $161,558.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roderick Nelson sold 1,262 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $64.80, for a total transaction of $81,777.60. Following the completion of the sale, the director now directly owns 2,347 shares in the company, valued at $152,085.60. The disclosure for this sale can be found here. Insiders sold 32,449 shares of company stock worth $2,295,575 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Vulcan Value Partners LLC boosted its position in shares of Qorvo by 16.2% in the second quarter. Vulcan Value Partners LLC now owns 7,798,102 shares of the semiconductor company’s stock worth $625,174,000 after acquiring an additional 1,087,335 shares during the last quarter. Millennium Management LLC boosted its position in shares of Qorvo by 207.7% in the second quarter. Millennium Management LLC now owns 1,310,508 shares of the semiconductor company’s stock worth $105,063,000 after acquiring an additional 884,601 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in shares of Qorvo by 32.7% in the third quarter. Iridian Asset Management LLC CT now owns 3,408,079 shares of the semiconductor company’s stock worth $262,047,000 after acquiring an additional 838,994 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Qorvo by 4,338.5% in the second quarter. Advisors Asset Management Inc. now owns 682,949 shares of the semiconductor company’s stock worth $1,282,000 after acquiring an additional 667,562 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Qorvo by 366.5% in the third quarter. Prudential Financial Inc. now owns 646,625 shares of the semiconductor company’s stock worth $49,719,000 after acquiring an additional 508,000 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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About Qorvo (NASDAQ:QRVO)

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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