Qorvo, Inc. (NASDAQ:QRVO) Receives $95.84 Average Target Price from Analysts

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

Several equities research analysts have recently weighed in on QRVO shares. Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Barclays decreased their price target on Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group decreased their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, Mizuho lifted their target price on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, January 24th.

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Institutional Investors Weigh In On Qorvo

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. Mediolanum International Funds Ltd purchased a new stake in shares of Qorvo in the fourth quarter worth approximately $1,177,000. GDS Wealth Management purchased a new stake in Qorvo in the 3rd quarter valued at $2,171,000. Robeco Institutional Asset Management B.V. lifted its stake in Qorvo by 78.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company's stock valued at $55,548,000 after acquiring an additional 236,590 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Qorvo by 245.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock worth $1,024,000 after acquiring an additional 10,405 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Qorvo during the 3rd quarter worth $2,507,000. Institutional investors and hedge funds own 88.57% of the company's stock.

Qorvo Trading Up 0.1 %

NASDAQ:QRVO traded up $0.06 on Monday, reaching $71.20. 2,247,189 shares of the stock traded hands, compared to its average volume of 2,957,639. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo has a 1-year low of $64.54 and a 1-year high of $130.99. The company's 50 day moving average is $76.99 and its 200-day moving average is $85.05. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 254.29, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48.

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.