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

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) have been given a consensus rating of "Hold" by the nineteen analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $91.21.

A number of analysts have commented on the company. Piper Sandler upgraded Qorvo from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $85.00 to $110.00 in a research report on Monday, January 27th. Needham & Company LLC reduced their price objective on Qorvo from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. TD Cowen reduced their price objective on Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen upgraded Qorvo from a "hold" rating to a "buy" rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus set a $75.00 price objective on Qorvo in a research report on Monday, April 28th.

Insiders Place Their Bets

In other Qorvo news, Director John R. Harding sold 1,450 shares of the company'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 completion of the sale, the director now directly owns 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Qorvo

Several institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Principal Financial Group Inc. grew its stake in shares of Qorvo by 1.3% in the third quarter. Principal Financial Group Inc. now owns 109,100 shares of the semiconductor company's stock valued at $11,270,000 after buying an additional 1,426 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Qorvo in the fourth quarter valued at about $202,000. Janney Montgomery Scott LLC grew its stake in shares of Qorvo by 245.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company's stock valued at $1,024,000 after buying an additional 10,405 shares in the last quarter. CX Institutional acquired a new stake in shares of Qorvo in the fourth quarter valued at about $224,000. Finally, Blue Trust Inc. grew its stake in shares of Qorvo by 23.6% in the fourth quarter. Blue Trust Inc. now owns 1,739 shares of the semiconductor company's stock valued at $122,000 after buying an additional 332 shares in the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Price Performance

QRVO traded down $0.41 during trading on Friday, reaching $76.10. 1,014,174 shares of the stock were exchanged, compared to its average volume of 2,193,267. The business's 50 day moving average price is $67.61 and its two-hundred day moving average price is $71.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 271.79, a P/E/G ratio of 15.57 and a beta of 1.38. Qorvo has a 1 year low of $49.46 and a 1 year high of $130.99.

Qorvo (NASDAQ:QRVO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.42. The company had revenue of $869.47 million for the quarter, compared to the consensus estimate of $850.13 million. Qorvo had a return on equity of 12.41% and a net margin of 0.71%. Qorvo's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.39 earnings per share. As a group, equities research analysts anticipate that Qorvo will post 4.09 earnings per share for the current year.

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.