Qorvo, Inc. (NASDAQ:QRVO) Given Average Recommendation of "Hold" by Analysts

Key Points

• Qorvo has a consensus analyst rating of "Hold" from 20 firms, with one sell, 16 holds, and three buys. The average 1-year price target is about $97.07.
• Recent analyst actions were mostly neutral, including target price hikes from Citigroup, UBS, and JPMorgan to $100 while maintaining neutral ratings. Wall Street Zen was the only noted firm to upgrade Qorvo from hold to buy.
• Insiders have been selling shares, including VP Gina Harrison and CEO Robert A. Bruggeworth, while institutional ownership remains high at 88.57%. Qorvo also beat quarterly earnings estimates, reporting $1.69 EPS versus expectations of $1.21.

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $97.0667.

A number of analysts have recently commented on QRVO shares. Citigroup boosted their price objective on Qorvo from $90.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Qorvo in a report on Monday, April 27th. UBS Group lifted their target price on Qorvo from $87.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Qorvo from a "hold" rating to a "buy" rating in a report on Sunday.

Insider Buying and Selling at Qorvo

In related news, VP Gina Harrison sold 4,714 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total transaction of $471,400.00. Following the completion of the sale, the vice president directly owned 24,429 shares of the company's stock, valued at $2,442,900. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $100.40, for a total transaction of $5,818,882.80. Following the sale, the chief executive officer owned 319,880 shares of the company's stock, valued at $32,115,952. The trade was a 15.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,966,127 shares of company stock valued at $198,911,103 over the last quarter. Company insiders own 0.49% of the company's stock.

Institutional Investors Weigh In On Qorvo

Several large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Qorvo by 5.0% during the second quarter. State Street Corp now owns 3,704,113 shares of the semiconductor company's stock valued at $314,516,000 after purchasing an additional 175,031 shares during the last quarter. FIL Ltd increased its stake in Qorvo by 13.2% in the 4th quarter. FIL Ltd now owns 3,610,045 shares of the semiconductor company's stock worth $305,085,000 after purchasing an additional 421,224 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Qorvo by 16.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,181,479 shares of the semiconductor company's stock worth $168,842,000 after purchasing an additional 311,645 shares in the last quarter. Bank of America Corp DE raised its holdings in Qorvo by 801.4% during the 1st quarter. Bank of America Corp DE now owns 1,767,373 shares of the semiconductor company's stock worth $136,795,000 after buying an additional 1,571,303 shares during the period. Finally, LSV Asset Management raised its holdings in Qorvo by 2.3% during the 4th quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company's stock worth $131,452,000 after buying an additional 34,605 shares during the period. 88.57% of the stock is owned by institutional investors.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $83.44 on Thursday. Qorvo has a 12 month low of $74.92 and a 12 month high of $109.49. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.29 and a beta of 1.44. The stock's 50 day moving average price is $95.28 and its 200 day moving average price is $86.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.48. The firm had revenue of $808.28 million during the quarter, compared to the consensus estimate of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts anticipate that Qorvo will post 5.84 earnings per share for the current fiscal year.

About Qorvo

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo's product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.

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