Qorvo (NASDAQ:QRVO) Hits New 1-Year Low - Should You Sell?

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $70.35 and last traded at $70.40, with a volume of 368439 shares changing hands. The stock had previously closed at $72.06.

Analyst Upgrades and Downgrades

QRVO has been the topic of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Qorvo from $105.00 to $118.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. BNP Paribas cut shares of Qorvo from an "outperform" rating to a "neutral" rating and set a $80.00 target price on the stock. in a report on Wednesday, October 30th. StockNews.com lowered shares of Qorvo from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Susquehanna reduced their price target on shares of Qorvo from $115.00 to $90.00 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. Finally, Benchmark lowered shares of Qorvo from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Qorvo has a consensus rating of "Hold" and a consensus target price of $104.75.

Qorvo Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. The company has a market capitalization of $6.65 billion, a P/E ratio of -48.28, a PEG ratio of 5.84 and a beta of 1.49. The company has a 50 day moving average of $99.12 and a 200-day moving average of $106.21.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. The company 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 last year, the firm earned $1.99 earnings per share. As a group, equities analysts anticipate that Qorvo, Inc. will post 3.37 EPS for the current year.

Insider Buying and Selling

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Institutional Trading of Qorvo

Several large investors have recently bought and sold shares of QRVO. Mather Group LLC. boosted its position in shares of Qorvo by 5.6% in the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company's stock worth $208,000 after purchasing an additional 96 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 104 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Qorvo by 5.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock worth $231,000 after purchasing an additional 107 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Qorvo by 81.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Finally, American Trust boosted its position in shares of Qorvo by 5.8% in the 2nd quarter. American Trust now owns 2,110 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 115 shares in the last quarter. 88.57% of the stock is owned by 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.

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