Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been given an average rating of "Hold" by the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $91.21.
Several analysts have recently commented on QRVO shares. Wall Street Zen cut shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Benchmark raised Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a report on Wednesday, April 30th. Loop Capital decreased their price objective on Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. TD Cowen dropped their target price on Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, Citigroup reaffirmed a "sell" rating on shares of Qorvo in a research note on Tuesday.
Read Our Latest Stock Analysis on Qorvo
Qorvo Price Performance
QRVO stock traded down $0.87 during midday trading on Wednesday, reaching $81.76. 144,115 shares of the company's stock traded hands, compared to its average volume of 2,222,402. The company has a 50-day simple moving average of $69.61 and a two-hundred day simple moving average of $72.41. 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 1-year low of $49.46 and a 1-year high of $130.99. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 292.00, a PEG ratio of 15.57 and a beta of 1.37.
Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.42. The company had revenue of $869.47 million during the quarter, compared to analyst estimates of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, analysts anticipate that Qorvo will post 4.09 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director John R. Harding sold 1,450 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the sale, the director now owns 7,597 shares of the company's stock, valued at $532,473.73. This trade represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Alexander Randolph Advisory Inc. raised its holdings in shares of Qorvo by 1.0% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock worth $950,000 after acquiring an additional 140 shares during the period. Huntington National Bank increased its holdings in Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Signaturefd LLC raised its stake in shares of Qorvo by 34.6% in the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 170 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Qorvo by 7.2% in the fourth quarter. Truvestments Capital LLC now owns 2,768 shares of the semiconductor company's stock valued at $194,000 after purchasing an additional 185 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Qorvo by 67.4% in the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 88.57% of the company's stock.
Qorvo Company Profile
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Get Free ReportQorvo, 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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