Analysts Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $95.35

Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) has been given an average rating of "Hold" by the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $95.35.

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Qorvo from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Susquehanna reissued a "neutral" rating and set a $95.00 target price (up previously from $90.00) on shares of Qorvo in a research note on Wednesday. Benchmark upped their price target on Qorvo from $95.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday. Citigroup reiterated a "sell" rating on shares of Qorvo in a research report on Tuesday, June 10th. Finally, Loop Capital upped their target price on shares of Qorvo from $75.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday.

Qorvo Stock Performance

NASDAQ QRVO traded up $0.51 on Thursday, reaching $84.11. 2,343,204 shares of the stock were exchanged, compared to its average volume of 2,470,890. The company has a current ratio of 2.81, a quick ratio of 1.95 and a debt-to-equity ratio of 0.45. Qorvo has a one year low of $49.46 and a one year high of $117.90. The firm has a market capitalization of $7.81 billion, a PE ratio of 98.95, a PEG ratio of 2.31 and a beta of 1.39. The company's 50-day simple moving average is $83.05 and its two-hundred day simple moving average is $76.07.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The semiconductor company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.62 by $0.30. The firm had revenue of $818.80 million for the quarter, compared to the consensus estimate of $775.61 million. Qorvo had a net margin of 2.21% and a return on equity of 12.63%. The company's revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. Analysts expect that Qorvo will post 4.09 EPS for the current fiscal year.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 1,450 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director owned 7,597 shares of the company's stock, valued at approximately $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Qorvo

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Qorvo by 16.3% in the fourth quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock worth $45,429,000 after purchasing an additional 91,120 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Qorvo in the 4th quarter valued at about $1,327,000. American Century Companies Inc. grew its stake in Qorvo by 5.0% in the 4th quarter. American Century Companies Inc. now owns 30,467 shares of the semiconductor company's stock worth $2,131,000 after acquiring an additional 1,443 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Qorvo by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,561 shares of the semiconductor company's stock worth $547,000 after acquiring an additional 717 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Qorvo by 10.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,635 shares of the semiconductor company's stock valued at $604,000 after acquiring an additional 827 shares in the last quarter. 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.