Recent Investment Analysts’ Ratings Updates for Qorvo (QRVO)

Qorvo (NASDAQ: QRVO) recently received a number of ratings updates from brokerages and research firms:

  • 4/4/2018 – Qorvo is now covered by analysts at UBS. They set a “neutral” rating and a $76.00 price target on the stock.
  • 4/3/2018 – Qorvo was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Qorvo is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure and aerospace/defense applications. Shares of the company have underperformed the industry in the past three months. We believe, delayed product cycle at its largest customer is cited to be one of the multiple reasons that are likely to hurt MP revenues in the current quarter. Further, Qorvo operates in a competitive landscape that is becoming more complex with low barriers to entry. Nonetheless, the company benefited from increasing dollar content across power amplifiers, switches, tuners and Wi-Fi in flagship smartphones from Huawei, Oppo, Vivo and others.”
  • 4/2/2018 – Qorvo was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 3/23/2018 – Qorvo was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/21/2018 – Qorvo was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Qorvo is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure and aerospace/defense applications. The company benefited from increasing dollar content across power amplifiers, switches, tuners and Wi-Fi in flagship smartphones from Huawei, Oppo, Vivo and others. Shares of the company have ouperformed the industry in the past one year. However, delayed product cycle at its largest customer is cited to be one of the multiple reasons that are likely to hurt MP revenues in the current quarter. Further, Qorvo operates in a competitive landscape that is becoming more complex with low barriers to entry.”
  • 3/20/2018 – Qorvo had its “neutral” rating reaffirmed by analysts at Instinet.
  • 3/20/2018 – Qorvo was downgraded by analysts at Nomura from a “buy” rating to a “neutral” rating. They now have a $75.00 price target on the stock, down previously from $85.00.
  • 3/16/2018 – Qorvo was given a new $92.00 price target on by analysts at JPMorgan Chase. They now have a “buy” rating on the stock.
  • 3/15/2018 – Qorvo was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating.
  • 2/28/2018 – Qorvo was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 2/26/2018 – Qorvo is now covered by analysts at Piper Jaffray. They set an “overweight” rating and a $90.00 price target on the stock.
  • 2/17/2018 – Qorvo was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of NASDAQ:QRVO traded up $0.32 during trading on Thursday, reaching $72.52. 102,038 shares of the company traded hands, compared to its average volume of 2,139,104. The firm has a market capitalization of $9,011.40, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. Qorvo has a 1-year low of $62.68 and a 1-year high of $86.84. The company has a quick ratio of 3.62, a current ratio of 4.72 and a debt-to-equity ratio of 0.23.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.09. The company had revenue of $845.70 million during the quarter, compared to analyst estimates of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. equities research analysts expect that Qorvo will post 4.49 earnings per share for the current fiscal year.



In related news, VP Gina Harrison sold 1,000 shares of Qorvo stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $82.83, for a total value of $82,830.00. Following the completion of the sale, the vice president now owns 14,954 shares of the company’s stock, valued at approximately $1,238,639.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $71.37, for a total transaction of $428,220.00. Following the completion of the sale, the vice president now directly owns 82,725 shares of the company’s stock, valued at approximately $5,904,083.25. The disclosure for this sale can be found here. Insiders have sold a total of 21,500 shares of company stock valued at $1,671,675 in the last three months. Company insiders own 0.91% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Boston Partners raised its holdings in Qorvo by 47.5% in the 4th quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock worth $191,089,000 after acquiring an additional 924,017 shares during the period. Guggenheim Capital LLC raised its holdings in Qorvo by 63.9% in the 4th quarter. Guggenheim Capital LLC now owns 1,339,659 shares of the semiconductor company’s stock worth $89,223,000 after acquiring an additional 522,526 shares during the period. First Trust Advisors LP raised its holdings in Qorvo by 119.2% in the 4th quarter. First Trust Advisors LP now owns 309,432 shares of the semiconductor company’s stock worth $20,608,000 after acquiring an additional 168,299 shares during the period. BlackRock Inc. raised its holdings in Qorvo by 1.4% in the 4th quarter. BlackRock Inc. now owns 8,601,788 shares of the semiconductor company’s stock worth $572,880,000 after acquiring an additional 120,708 shares during the period. Finally, Millennium Management LLC raised its holdings in Qorvo by 1,535.5% in the 4th quarter. Millennium Management LLC now owns 128,059 shares of the semiconductor company’s stock worth $8,529,000 after acquiring an additional 120,229 shares during the period. 97.55% of the stock is owned by institutional investors and hedge funds.

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 (PA), low noise amplifiers, 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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