Qorvo (NASDAQ:QRVO - Get Free Report) has been assigned a $125.00 price objective by analysts at Piper Sandler in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has an "overweight" rating on the semiconductor company's stock. Piper Sandler's target price would indicate a potential upside of 48.61% from the stock's previous close.
QRVO has been the subject of several other reports. Susquehanna reaffirmed a "neutral" rating and set a $95.00 target price (up from $90.00) on shares of Qorvo in a report on Wednesday. UBS Group upped their price target on Qorvo from $75.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen lowered Qorvo from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. TD Cowen upped their price target on Qorvo from $80.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, Stifel Nicolaus set a $88.00 price target on Qorvo and gave the company a "hold" rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $95.35.
Read Our Latest Stock Analysis on Qorvo
Qorvo Trading Up 0.6%
NASDAQ:QRVO opened at $84.11 on Wednesday. Qorvo has a 1 year low of $49.46 and a 1 year high of $117.90. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 98.95, a PEG ratio of 1.69 and a beta of 1.35. The business has a fifty day moving average of $83.24 and a 200-day moving average of $76.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.95 and a current ratio of 2.81.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.30. Qorvo had a return on equity of 12.63% and a net margin of 2.21%. The company had revenue of $818.80 million during the quarter, compared to analysts' expectations of $775.61 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. Equities analysts predict that Qorvo will post 4.09 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director John R. Harding sold 1,450 shares of the 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 completion of the sale, the director owned 7,597 shares in the company, valued at $532,473.73. This represents a 16.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by insiders.
Institutional Trading of Qorvo
Several hedge funds have recently added to or reduced their stakes in QRVO. Wealth Enhancement Advisory Services LLC lifted its position in shares of Qorvo by 1.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,679 shares of the semiconductor company's stock worth $682,000 after acquiring an additional 118 shares during the period. Huntington National Bank lifted its position in shares of Qorvo by 47.1% in the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 145 shares during the period. Signaturefd LLC lifted its position in shares of Qorvo by 34.6% in the 1st quarter. Signaturefd LLC now owns 662 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 170 shares during the period. HB Wealth Management LLC lifted its position in shares of Qorvo by 6.9% in the 2nd quarter. HB Wealth Management LLC now owns 2,955 shares of the semiconductor company's stock worth $251,000 after acquiring an additional 190 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Qorvo by 0.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,974 shares of the semiconductor company's stock worth $2,630,000 after acquiring an additional 203 shares during the period. Institutional investors own 88.57% of the company's stock.
About Qorvo
(
Get Free Report)
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.
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