Mizuho reiterated their neutral rating on shares of Qorvo (NASDAQ:QRVO) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. Mizuho currently has a $74.00 target price on the semiconductor company’s stock, up from their prior target price of $70.00.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. set a $88.00 target price on Qorvo and gave the company a buy rating in a research report on Wednesday, November 15th. Craig Hallum downgraded Qorvo from a buy rating to a hold rating and lowered their price objective for the stock from $78.00 to $71.00 in a research report on Thursday, November 2nd. Canaccord Genuity raised their price objective on Qorvo from $81.00 to $87.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Qorvo from a strong sell rating to a hold rating in a research report on Tuesday, January 2nd. Finally, Northland Securities downgraded Qorvo from an outperform rating to a market perform rating in a research report on Thursday, November 2nd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $79.60.

Qorvo (QRVO) opened at $80.77 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 2.71. The company has a market capitalization of $10,216.92, a PE ratio of 403.85, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. Qorvo has a 1 year low of $62.68 and a 1 year high of $85.24.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.60 by $0.09. The firm had revenue of $845.70 million during the quarter, compared to the consensus estimate of $841.09 million. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.35 earnings per share. equities research analysts anticipate that Qorvo will post 4.61 EPS for the current fiscal year.

In other Qorvo news, VP James L. Klein sold 2,600 shares of Qorvo stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $77.58, for a total value of $201,708.00. Following the completion of the sale, the vice president now directly owns 42,993 shares in the company, valued at $3,335,396.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $76.97, for a total value of $461,820.00. Following the completion of the sale, the vice president now owns 95,725 shares of the company’s stock, valued at $7,367,953.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,096 shares of company stock valued at $3,968,257. 0.91% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC bought a new stake in Qorvo in the third quarter worth approximately $130,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Qorvo by 79.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. increased its holdings in Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 126 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in Qorvo in the second quarter worth approximately $188,000. Finally, Zeke Capital Advisors LLC bought a new stake in Qorvo in the third quarter worth approximately $206,000. Institutional investors and hedge funds own 96.49% of the company’s stock.

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About Qorvo

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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