StockNews.com upgraded shares of Qorvo (NASDAQ:QRVO - Free Report) from a hold rating to a buy rating in a research note issued to investors on Wednesday.
Several other equities analysts have also recently commented on QRVO. Craig Hallum reduced their price target on shares of Qorvo from $142.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Mizuho lifted their target price on Qorvo from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $85.00 to $110.00 in a report on Monday, January 27th. Susquehanna reduced their price objective on Qorvo from $115.00 to $90.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $95.84.
View Our Latest Research Report on QRVO
Qorvo Stock Down 0.9 %
Shares of NASDAQ:QRVO traded down $0.74 during midday trading on Wednesday, reaching $82.98. The company had a trading volume of 2,404,087 shares, compared to its average volume of 3,567,285. The stock has a market capitalization of $7.84 billion, a P/E ratio of 296.36, a PEG ratio of 6.89 and a beta of 1.40. The stock's fifty day moving average price is $74.01 and its 200-day moving average price is $90.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.90 and a quick ratio of 1.38. Qorvo has a one year low of $64.54 and a one year high of $130.99.
Insider Buying and Selling
In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company's stock.
Hedge Funds Weigh In On Qorvo
Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock worth $43,000 after buying an additional 104 shares during the last quarter. V Square Quantitative Management LLC grew its holdings 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 acquiring an additional 107 shares during the last quarter. American Trust raised its position in shares of Qorvo by 5.8% during the second quarter. American Trust now owns 2,110 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 115 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Qorvo by 3.7% during the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after purchasing an additional 140 shares during the last quarter. Finally, Narwhal Capital Management boosted its position in shares of Qorvo by 7.7% in the 3rd quarter. Narwhal Capital Management now owns 2,240 shares of the semiconductor company's stock valued at $231,000 after purchasing an additional 160 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Qorvo Company Profile
(
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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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