Qorvo, Inc. (NASDAQ:QRVO) Receives Consensus Rating of "Hold" from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) have been given a consensus recommendation of "Hold" by the twenty-one analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $93.9375.

Several research analysts recently weighed in on the stock. Barclays upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. KeyCorp reiterated a "sector weight" rating on shares of Qorvo in a research report on Wednesday, January 28th. TD Cowen reduced their price target on shares of Qorvo from $95.00 to $80.00 and set a "hold" rating on the stock in a research report on Wednesday, January 28th. Mizuho reiterated an "underperform" rating and set a $66.00 price target (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Finally, Stifel Nicolaus reduced their price target on shares of Qorvo from $88.00 to $85.00 and set a "hold" rating on the stock in a research report on Wednesday, January 28th.

Institutional Trading of Qorvo

Institutional investors have recently made changes to their positions in the stock. Sage Rhino Capital LLC lifted its stake in Qorvo by 4.4% in the third quarter. Sage Rhino Capital LLC now owns 3,758 shares of the semiconductor company's stock worth $342,000 after acquiring an additional 160 shares during the period. Fred Alger Management LLC increased its holdings in shares of Qorvo by 5.3% during the third quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company's stock valued at $290,000 after acquiring an additional 160 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of Qorvo by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company's stock valued at $254,000 after acquiring an additional 161 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Qorvo by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company's stock worth $306,000 after buying an additional 167 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Qorvo by 4.5% in the third quarter. Versant Capital Management Inc now owns 4,139 shares of the semiconductor company's stock worth $377,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 88.57% of the company's stock.

Qorvo Trading Down 0.8%

Shares of QRVO opened at $93.50 on Friday. The business's 50-day moving average price is $80.75 and its 200-day moving average price is $83.96. Qorvo has a twelve month low of $69.03 and a twelve month high of $106.30. The stock has a market cap of $8.67 billion, a PE ratio of 25.76, a P/E/G ratio of 1.49 and a beta of 1.42. The company has a quick ratio of 2.89, a current ratio of 3.67 and a debt-to-equity ratio of 0.42.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The semiconductor company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.24. The firm had revenue of $993.00 million for the quarter, compared to analysts' expectations of $984.10 million. Qorvo had a return on equity of 14.57% and a net margin of 9.11%.The company's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 earnings per share. On average, equities analysts forecast that Qorvo will post 5.29 EPS 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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