Qorvo, Inc. (NASDAQ:QRVO) Receives Average Recommendation of "Hold" from Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) have earned a consensus rating of "Hold" from the nineteen ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $90.89.

A number of research firms have recently weighed in on QRVO. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research note on Wednesday, April 30th. Citigroup reiterated a "sell" rating on shares of Qorvo in a research note on Tuesday, June 10th. Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a research note on Monday, April 28th. Wall Street Zen lowered shares of Qorvo from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Finally, TD Cowen cut their price objective on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th.

Qorvo Stock Performance

Shares of NASDAQ QRVO traded down $3.93 during midday trading on Friday, reaching $84.35. The company had a trading volume of 1,361,276 shares, compared to its average volume of 2,247,197. The business's 50-day simple moving average is $77.92 and its 200 day simple moving average is $73.99. The stock has a market cap of $7.83 billion, a P/E ratio of 145.43, a P/E/G ratio of 2.37 and a beta of 1.39. Qorvo has a 1 year low of $49.46 and a 1 year high of $130.99. The company has a current ratio of 2.77, a quick ratio of 1.95 and a debt-to-equity ratio of 0.46.

Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.42. The firm had revenue of $869.47 million for the quarter, compared to analyst estimates of $850.13 million. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The business's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 earnings per share. On average, analysts forecast that Qorvo will post 4.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director directly owned 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Qorvo

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Qorvo by 16.3% in the 4th quarter. JPMorgan Chase & Co. now owns 649,631 shares of the semiconductor company's stock valued at $45,429,000 after acquiring an additional 91,120 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Qorvo in the 4th quarter valued at approximately $1,327,000. SBI Securities Co. Ltd. purchased a new stake in shares of Qorvo in the 4th quarter valued at approximately $37,000. American Century Companies Inc. raised its stake in shares of Qorvo by 5.0% in the 4th quarter. American Century Companies Inc. now owns 30,467 shares of the semiconductor company's stock valued at $2,131,000 after acquiring an additional 1,443 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in shares of Qorvo by 22.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 14,318 shares of the semiconductor company's stock valued at $1,001,000 after acquiring an additional 2,638 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

About Qorvo

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.