Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Price Target at $95.84

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been given an average recommendation of "Hold" by the nineteen ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $95.84.

QRVO has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price objective on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Stifel Nicolaus dropped their price target on shares of Qorvo from $95.00 to $90.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. Loop Capital boosted their price objective on Qorvo from $80.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Citigroup dropped their price target on shares of Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th.

Qorvo Stock Performance

Shares of Qorvo stock traded up $0.91 on Friday, reaching $72.41. 1,634,106 shares of the company were exchanged, compared to its average volume of 2,005,985. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 258.61, a P/E/G ratio of 15.57 and a beta of 1.48. Qorvo has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The company's 50-day moving average is $76.74 and its two-hundred day moving average is $80.06.

Remove Ads

Institutional Investors Weigh In On Qorvo

Several institutional investors and hedge funds have recently bought and sold shares of QRVO. Alexander Randolph Advisory Inc. boosted its position in shares of Qorvo by 1.0% during the 4th quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after acquiring an additional 140 shares in the last quarter. Huntington National Bank lifted its stake in Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 145 shares during the period. Martingale Asset Management L P boosted its holdings in Qorvo by 1.0% during the third quarter. Martingale Asset Management L P now owns 19,061 shares of the semiconductor company's stock valued at $1,969,000 after purchasing an additional 181 shares in the last quarter. Truvestments Capital LLC grew its stake in shares of Qorvo by 7.2% in the 4th quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after purchasing an additional 185 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company's stock worth $33,000 after buying an additional 201 shares in the last quarter. Institutional investors own 88.57% of the company's stock.

About Qorvo

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.