Qorvo (NASDAQ:QRVO) PT Lowered to $110.00

Qorvo (NASDAQ:QRVOGet Rating) had its price target reduced by investment analysts at Mizuho from $128.00 to $110.00 in a report released on Tuesday, The Fly reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price objective would suggest a potential upside of 15.49% from the stock’s current price.

Several other research firms also recently weighed in on QRVO. Craig Hallum dropped their target price on shares of Qorvo from $225.00 to $180.00 in a research report on Thursday, May 5th. Susquehanna dropped their target price on shares of Qorvo from $150.00 to $120.00 in a research report on Thursday, May 5th. UBS Group dropped their target price on shares of Qorvo from $145.00 to $135.00 in a research report on Thursday, May 5th. Barclays dropped their target price on shares of Qorvo from $200.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, Susquehanna Bancshares dropped their price objective on shares of Qorvo from $150.00 to $120.00 in a report on Thursday, May 5th. Fourteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $162.50.

Shares of Qorvo stock opened at $95.25 on Tuesday. The firm’s 50 day moving average price is $107.49 and its 200-day moving average price is $127.17. The company has a quick ratio of 2.51, a current ratio of 3.63 and a debt-to-equity ratio of 0.45. Qorvo has a 52-week low of $91.91 and a 52-week high of $201.46. The company has a market cap of $10.10 billion, a P/E ratio of 10.30, a PEG ratio of 1.54 and a beta of 1.34.

Qorvo (NASDAQ:QRVOGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.32. Qorvo had a net margin of 22.24% and a return on equity of 28.07%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Qorvo will post 9.65 EPS for the current fiscal year.

In other news, VP Paul J. Fego sold 1,145 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $104.45, for a total transaction of $119,595.25. Following the completion of the sale, the vice president now owns 37,190 shares of the company’s stock, valued at $3,884,495.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul J. Fego sold 3,403 shares of the company’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $97.38, for a total transaction of $331,384.14. Following the sale, the vice president now directly owns 31,073 shares of the company’s stock, valued at approximately $3,025,888.74. The disclosure for this sale can be found here. Insiders have sold 20,070 shares of company stock valued at $2,055,769 over the last 90 days. 0.52% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Vulcan Value Partners LLC grew its holdings in shares of Qorvo by 30.1% in the fourth quarter. Vulcan Value Partners LLC now owns 5,640,650 shares of the semiconductor company’s stock valued at $882,141,000 after purchasing an additional 1,304,458 shares during the period. Capital Research Global Investors grew its holdings in shares of Qorvo by 42.4% in the first quarter. Capital Research Global Investors now owns 4,350,210 shares of the semiconductor company’s stock valued at $539,861,000 after purchasing an additional 1,294,612 shares during the period. Norges Bank purchased a new stake in shares of Qorvo in the fourth quarter valued at about $170,362,000. Woodline Partners LP purchased a new stake in shares of Qorvo in the fourth quarter valued at about $150,636,000. Finally, Baupost Group LLC MA grew its holdings in shares of Qorvo by 16.9% in the fourth quarter. Baupost Group LLC MA now owns 5,945,744 shares of the semiconductor company’s stock valued at $929,855,000 after purchasing an additional 861,278 shares during the period. 85.87% of the stock is owned by institutional investors and hedge funds.

Qorvo Company Profile (Get Rating)

Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.

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