Qorvo (NASDAQ:QRVO) Stock Rating Reaffirmed by Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Qorvo (NASDAQ:QRVO) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $105.00 price objective on the semiconductor company’s stock.

QRVO has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of Qorvo from $105.00 to $100.00 and set an underweight rating on the stock in a report on Thursday, May 2nd. The Goldman Sachs Group lowered their price target on shares of Qorvo from $117.00 to $105.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Mizuho decreased their price objective on shares of Qorvo from $115.00 to $105.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC decreased their price objective on shares of Qorvo from $125.00 to $110.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Finally, Susquehanna decreased their price objective on shares of Qorvo from $100.00 to $95.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $110.83.

Qorvo Price Performance

NASDAQ QRVO opened at $112.38 on Wednesday. Qorvo has a 52 week low of $80.62 and a 52 week high of $121.65. The company has a market cap of $10.75 billion, a PE ratio of -153.95, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $104.15 and its two-hundred day simple moving average is $107.67.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.18. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The firm had revenue of $941.00 million for the quarter, compared to the consensus estimate of $927.24 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. Research analysts predict that Qorvo will post 5.16 earnings per share for the current year.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 941 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now owns 6,950 shares in the company, valued at $676,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Paul J. Fego sold 2,132 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total value of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares in the company, valued at $2,502,711.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Harding sold 941 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the transaction, the director now owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,372 shares of company stock worth $4,517,858. Insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Park Place Capital Corp lifted its stake in Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 115 shares during the period. Riverview Trust Co purchased a new stake in Qorvo in the first quarter worth $40,000. Fidelis Capital Partners LLC purchased a new stake in Qorvo in the first quarter worth $58,000. Finally, GAMMA Investing LLC purchased a new stake in Qorvo in the fourth quarter worth $104,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.