Qorvo (NASDAQ:QRVO) Sets New 12-Month Low – Should You Sell?

Qorvo, Inc. (NASDAQ:QRVO)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $65.11 and last traded at $65.11, with a volume of 899369 shares traded. The stock had previously closed at $66.28.

Wall Street Analyst Weigh In

QRVO has been the subject of a number of recent research reports. Susquehanna cut their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Bank of America reduced their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Rosenblatt Securities increased their price objective on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. UBS Group decreased their price objective on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, BNP Paribas lowered Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Qorvo currently has an average rating of “Hold” and a consensus target price of $102.88.

Qorvo Stock Performance

The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The stock’s fifty day moving average is $90.84 and its two-hundred day moving average is $103.23. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -47.16, a price-to-earnings-growth ratio of 5.31 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $1.99 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts forecast that Qorvo, Inc. will post 3.37 earnings per share for the current year.

Insider Activity at Qorvo

In other news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the completion of the sale, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in shares of Qorvo by 5.6% during the second quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 96 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Qorvo by 5.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company’s stock valued at $231,000 after buying an additional 107 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Finally, American Trust boosted its stake in Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 115 shares during the period. 88.57% of the stock is owned by institutional investors and hedge funds.

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.