Weekly Analysts’ Ratings Changes for Qorvo (QRVO)
A number of research firms have changed their ratings and price targets for Qorvo (NASDAQ: QRVO):
- 8/4/2017 – Qorvo had its “hold” rating reaffirmed by analysts at Mizuho. They now have a $70.00 price target on the stock. They wrote, “We favor AVGO and SWKS with better, cleaner execution, higher topline growth, solid GMs, FCF, and diversification.””
- 8/3/2017 – Qorvo had its price target raised by analysts at Canaccord Genuity from $79.00 to $81.00. They now have a “buy” rating on the stock.
- 8/2/2017 – Qorvo was downgraded by analysts at TheStreet from a “b” rating to a “c” rating.
- 8/1/2017 – Qorvo had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $95.00 price target on the stock.
- 6/27/2017 – Qorvo was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 6/21/2017 – Qorvo was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Qorvo’s tepid first-quarter 2018 guidance primarily reflects weaker-than-expected demand in China. Moreover, higher research & development expense related to custom product development for its largest customers is a concern. We also believe that a probable delay in the launch of Apple iPhone 8 doesn’t bode well for the company. Further, increasing competition remains a major concern. Notably, Qorvo has underperformed the Zacks categorized Semiconductors-Radio Frequency industry over the last 12-months. Nevertheless, the company’s expanding product portfolio is a key positive. Additionally, increased BAW-based product mix, higher utilization rates, and ongoing productivity & quality improvements are key catalysts.”
- 6/16/2017 – Qorvo is now covered by analysts at Raymond James Financial, Inc.. They set an “outperform” rating and a $87.00 price target on the stock.
- 6/16/2017 – Qorvo was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
- 6/12/2017 – Qorvo had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $63.00 price target on the stock.
Shares of Qorvo, Inc. (QRVO) traded up 1.05% during trading on Friday, reaching $68.48. 378,700 shares of the company traded hands. The company’s market capitalization is $8.72 billion. The firm’s 50 day moving average price is $67.24 and its 200-day moving average price is $68.88. Qorvo, Inc. has a 52 week low of $48.28 and a 52 week high of $79.34.
Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.07. The firm had revenue of $640.80 million for the quarter, compared to the consensus estimate of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The company’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.08 EPS. Equities analysts anticipate that Qorvo, Inc. will post $5.54 EPS for the current fiscal year.
In related news, VP James L. Klein sold 2,600 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $78.69, for a total value of $204,594.00. Following the transaction, the vice president now directly owns 40,058 shares of the company’s stock, valued at approximately $3,152,164.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James L. Klein sold 4,120 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $68.41, for a total transaction of $281,849.20. Following the completion of the transaction, the vice president now directly owns 36,358 shares in the company, valued at $2,487,250.78. The disclosure for this sale can be found here. Insiders sold a total of 145,426 shares of company stock worth $10,440,193 over the last ninety days. Insiders own 0.91% of the company’s stock.
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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