Barclays Issues Pessimistic Forecast for Qorvo (NASDAQ:QRVO) Stock Price

Qorvo (NASDAQ:QRVO - Free Report) had its price objective decreased by Barclays from $80.00 to $60.00 in a research report released on Tuesday morning, MarketBeat reports. Barclays currently has an equal weight rating on the semiconductor company's stock.

A number of other analysts have also weighed in on QRVO. The Goldman Sachs Group reduced their price objective on shares of Qorvo from $99.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. StockNews.com raised Qorvo from a "hold" rating to a "buy" rating in a research note on Wednesday, January 29th. Mizuho upped their price objective on Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Stifel Nicolaus decreased their target price on Qorvo from $95.00 to $90.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler upgraded shares of Qorvo from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $85.00 to $110.00 in a report on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.79.

Qorvo Trading Up 0.4 %

QRVO traded up $0.27 during trading on Tuesday, reaching $63.78. The company had a trading volume of 988,983 shares, compared to its average volume of 2,144,012. The company has a quick ratio of 1.78, a current ratio of 2.60 and a debt-to-equity ratio of 0.46. Qorvo has a 52 week low of $49.46 and a 52 week high of $130.99. The stock has a market cap of $5.96 billion, a P/E ratio of 227.79, a PEG ratio of 15.57 and a beta of 1.43. The business has a 50 day simple moving average of $67.31 and a 200-day simple moving average of $74.34.

Institutional Trading of Qorvo

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in Qorvo by 36.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,576 shares of the semiconductor company's stock valued at $2,786,000 after buying an additional 10,209 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Qorvo by 7.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 134,169 shares of the semiconductor company's stock valued at $9,593,000 after purchasing an additional 9,375 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in Qorvo by 463.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 139,638 shares of the semiconductor company's stock worth $10,111,000 after purchasing an additional 114,857 shares in the last quarter. Golden State Wealth Management LLC increased its stake in Qorvo by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,988 shares of the semiconductor company's stock valued at $144,000 after purchasing an additional 994 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in shares of Qorvo in the first quarter worth $1,218,000. Hedge funds and other 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.