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

Key Points

• Qorvo has a consensus “Hold” rating from 18 analysts: 14 hold, three buy and one sell. The average 12-month price target is $94, below the cited share price of $99.08.
• Qorvo reported quarterly earnings of $1.64 per share, beating the $1.11 consensus estimate, while revenue of $784.79 million also exceeded expectations. However, revenue declined 4.2% year over year.
• Insiders sold approximately 1.97 million shares worth $198.9 million over the past 90 days, including a director’s sale of 1.9 million shares. Institutional investors own 88.57% of the company.

Shares of Qorvo, Inc. (NASDAQ:QRVO - Get Free Report) have earned a consensus rating of "Hold" from the eighteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $94.00.

• Qorvo NASDAQ: QRVO Will Be One Wild Buy

Several equities research analysts have issued reports on the company. Craig Hallum reaffirmed a "buy" rating and set a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th. Zacks Research lowered Qorvo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Mizuho reissued an "underperform" rating and set a $66.00 price objective (down from $70.00) on shares of Qorvo in a report on Monday, April 20th. Citigroup dropped their target price on Qorvo from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised Qorvo from a "hold" rating to a "buy" rating in a research note on Sunday, August 2nd.

Insider Buying and Selling at Qorvo

In other Qorvo news, Director Peter A. Feld sold 1,900,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $101.20, for a total value of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares of the company's stock, valued at $567,886,431.20. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Paul J. Fego sold 2,500 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president directly owned 71,038 shares of the company's stock, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,966,127 shares of company stock worth $198,911,103 over the last 90 days. Company insiders own 0.49% of the company's stock.

Institutional Investors Weigh In On Qorvo

Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 231 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Qorvo in the second quarter worth about $32,000. Sound Income Strategies LLC increased its holdings in Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 343 shares during the period. Advisory Services Network LLC purchased a new position in Qorvo during the 3rd quarter valued at about $36,000. Finally, Elevation Wealth Partners LLC raised its position in Qorvo by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 310 shares during the last quarter. Institutional investors own 88.57% of the company's stock.

Qorvo Stock Performance

NASDAQ:QRVO opened at $99.08 on Monday. The business's 50-day moving average price is $92.79 and its two-hundred day moving average price is $87.34. Qorvo has a twelve month low of $74.92 and a twelve month high of $109.49. The stock has a market cap of $8.74 billion, a P/E ratio of 22.99, a PEG ratio of 1.44 and a beta of 1.44. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO - Get Free Report) last announced its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. Qorvo's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts predict that Qorvo will post 6.3 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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