Qorvo (NASDAQ:QRVO) Lowered to Hold Rating by Wall Street Zen

Qorvo (NASDAQ:QRVO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

QRVO has been the subject of several other research reports. Loop Capital lowered their price target on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Barclays raised their price target on shares of Qorvo from $60.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. TD Cowen lowered their price objective on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Benchmark upgraded shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus set a $75.00 price objective on shares of Qorvo in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Qorvo presently has a consensus rating of "Hold" and an average price target of $91.21.

Qorvo Stock Up 0.6%

Qorvo stock opened at $78.58 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. Qorvo has a 52-week low of $49.46 and a 52-week high of $130.99. The firm has a 50 day moving average price of $68.48 and a two-hundred day moving average price of $72.11. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 280.64, a PEG ratio of 15.57 and a beta of 1.38.

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

Insider Buying and Selling at Qorvo

In other Qorvo news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were 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 owns 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Qorvo

A number of hedge funds have recently bought and sold shares of QRVO. Yousif Capital Management LLC boosted its holdings in Qorvo by 181.9% during the 4th quarter. Yousif Capital Management LLC now owns 38,158 shares of the semiconductor company's stock worth $2,668,000 after acquiring an additional 24,620 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Qorvo by 179.7% during the 4th quarter. State of Alaska Department of Revenue now owns 53,722 shares of the semiconductor company's stock worth $3,756,000 after acquiring an additional 34,516 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Qorvo during the 4th quarter worth $70,000. Empowered Funds LLC boosted its holdings in Qorvo by 64.5% during the 4th quarter. Empowered Funds LLC now owns 18,727 shares of the semiconductor company's stock worth $1,310,000 after acquiring an additional 7,340 shares during the last quarter. Finally, Entropy Technologies LP boosted its holdings in Qorvo by 148.2% during the 4th quarter. Entropy Technologies LP now owns 58,192 shares of the semiconductor company's stock worth $4,069,000 after acquiring an additional 34,749 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company Profile

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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