Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Price Target at $102.88

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been given an average rating of "Hold" by the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $102.88.

Several research analysts have recently issued reports on QRVO shares. Benchmark lowered shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. StockNews.com downgraded Qorvo from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Susquehanna decreased 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. Craig Hallum cut their price target on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler lowered their price target on Qorvo from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, October 25th.

Insiders Place Their Bets

In related news, VP Gina Harrison sold 689 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the transaction, the vice president now directly owns 21,601 shares of the company's stock, valued at approximately $2,325,779.67. The trade was a 3.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

Institutional Trading of Qorvo

Several hedge funds have recently added to or reduced their stakes in QRVO. Vulcan Value Partners LLC grew its stake in shares of Qorvo by 35.0% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company's stock worth $246,665,000 after acquiring an additional 550,111 shares during the period. Pacer Advisors Inc. increased its stake in shares of Qorvo by 7.1% in the third quarter. Pacer Advisors Inc. now owns 1,528,748 shares of the semiconductor company's stock worth $157,920,000 after purchasing an additional 101,742 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company's stock valued at $153,558,000 after purchasing an additional 4,386 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Qorvo by 140.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company's stock valued at $86,290,000 after buying an additional 487,621 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Qorvo by 23.9% in the 3rd quarter. Van ECK Associates Corp now owns 832,292 shares of the semiconductor company's stock worth $83,429,000 after buying an additional 160,534 shares during the period. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Up 2.0 %

Shares of QRVO traded up $1.38 during mid-day trading on Friday, hitting $69.25. 1,885,884 shares of the company's stock were exchanged, compared to its average volume of 2,462,038. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -47.43, a P/E/G ratio of 5.44 and a beta of 1.49. Qorvo has a twelve month low of $64.98 and a twelve month high of $130.99. The firm has a fifty day moving average of $90.08 and a two-hundred day moving average of $103.05. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. Qorvo's quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.99 earnings per share. On average, sell-side analysts forecast that Qorvo will post 3.37 earnings per share for the current year.

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.