Qorvo's (QRVO) "Hold" Rating Reiterated at Benchmark

Benchmark reiterated their hold rating on shares of Qorvo (NASDAQ:QRVO - Free Report) in a report released on Wednesday,Benzinga reports.

A number of other equities research analysts also recently commented on the stock. Barclays cut their target price on shares of Qorvo from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. lowered their target price on Qorvo from $115.00 to $95.00 and set an "underweight" rating on the stock in a report on Wednesday, October 30th. Bank of America cut their price target on Qorvo from $115.00 to $80.00 and set an "underperform" rating for the company in a research note on Wednesday, October 30th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Finally, Mizuho boosted their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.84.

Qorvo Stock Performance

Shares of NASDAQ:QRVO traded down $0.74 during midday trading on Wednesday, reaching $82.98. 2,404,087 shares of the company's stock traded hands, compared to its average volume of 3,567,285. Qorvo has a one year low of $64.54 and a one year high of $130.99. The stock has a 50 day moving average of $74.01 and a 200 day moving average of $91.21. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 296.36, a P/E/G ratio of 6.89 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results 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. Qorvo had a net margin of 0.71% and a return on equity of 12.32%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $1.99 EPS. The business's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Qorvo will post 3.37 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its position in shares of Qorvo by 163.4% in the third 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. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Qorvo during the 3rd quarter worth approximately $41,000. Versant Capital Management Inc boosted its position in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company's stock valued at $42,000 after acquiring an additional 286 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Qorvo by 33.7% in the third 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 in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

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.