Analysts Set Qorvo, Inc. (NASDAQ:QRVO) Price Target at $99.06

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been given a consensus recommendation of "Hold" by the seventeen analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $99.06.

A number of equities research analysts have recently commented on QRVO shares. StockNews.com downgraded Qorvo from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. UBS Group lowered their price target on Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered shares of Qorvo from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $130.00 to $120.00 in a report on Friday, October 11th. The Goldman Sachs Group lowered their target price on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a report on Friday. Finally, Barclays decreased their price target on shares of Qorvo from $120.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 30th.

Qorvo Price Performance

Shares of QRVO traded down $1.39 during trading hours on Friday, reaching $71.69. 5,329,870 shares of the company traded hands, compared to its average volume of 3,247,778. The stock has a fifty day simple moving average of $69.72 and a 200 day simple moving average of $94.98. Qorvo has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The stock has a market capitalization of $6.78 billion, a PE ratio of -49.10, a price-to-earnings-growth ratio of 5.58 and a beta of 1.40. 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 issued its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The company's quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.99 earnings per share. As a group, research analysts predict that Qorvo will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total transaction of $283,756.75. Following the completion of the sale, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

Institutional Trading of Qorvo

A number of hedge funds have recently bought and sold shares of QRVO. GDS Wealth Management purchased a new position in Qorvo in the third quarter valued at about $2,171,000. Robeco Institutional Asset Management B.V. grew its holdings in Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Qorvo in the third quarter valued at approximately $2,507,000. Quest Partners LLC lifted its stake in shares of Qorvo by 504.6% in the third quarter. Quest Partners LLC now owns 11,596 shares of the semiconductor company's stock worth $1,198,000 after buying an additional 9,678 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Qorvo during the 3rd quarter worth $1,211,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

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.