Qorvo Inc (NASDAQ:QRVO) has received an average rating of “Hold” from the twenty-seven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $83.79.
Several equities analysts have weighed in on the company. Barclays lowered their target price on Qorvo from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Zacks Investment Research raised Qorvo from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Wednesday, October 17th. Morgan Stanley lowered their target price on Qorvo from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. BidaskClub raised Qorvo from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Finally, ValuEngine cut Qorvo from a “buy” rating to a “hold” rating in a research note on Saturday, August 18th.
NASDAQ QRVO traded down $1.24 on Friday, hitting $69.74. 1,380,179 shares of the company were exchanged, compared to its average volume of 1,072,752. The company has a current ratio of 3.39, a quick ratio of 2.15 and a debt-to-equity ratio of 0.12. The company has a market cap of $8.76 billion, a PE ratio of 14.59, a PEG ratio of 1.07 and a beta of 0.96. Qorvo has a twelve month low of $64.53 and a twelve month high of $86.84.
In related news, insider Robert A. Bruggeworth sold 4,535 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $85.69, for a total value of $388,604.15. Following the completion of the sale, the insider now owns 193,135 shares of the company’s stock, valued at approximately $16,549,738.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gina Harrison sold 1,016 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $74.00, for a total value of $75,184.00. Following the completion of the sale, the vice president now directly owns 18,381 shares of the company’s stock, valued at approximately $1,360,194. The disclosure for this sale can be found here. In the last three months, insiders sold 45,608 shares of company stock valued at $3,635,256. 0.85% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc bought a new stake in shares of Qorvo in the 3rd quarter valued at approximately $110,000. Piedmont Investment Advisors LLC bought a new stake in shares of Qorvo in the 2nd quarter valued at approximately $119,000. Huntington National Bank grew its stake in shares of Qorvo by 2,381.0% in the 3rd quarter. Huntington National Bank now owns 2,084 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 2,000 shares in the last quarter. Cerebellum GP LLC grew its stake in shares of Qorvo by 123.5% in the 3rd quarter. Cerebellum GP LLC now owns 2,461 shares of the semiconductor company’s stock valued at $189,000 after buying an additional 1,360 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Qorvo in the 2nd quarter valued at approximately $200,000. 94.15% of the stock is owned by institutional investors and hedge funds.
Qorvo Company Profile
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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