Barclays Lowers Qorvo (NASDAQ:QRVO) Price Target to $60.00

Qorvo (NASDAQ:QRVO - Free Report) had its target price reduced by Barclays from $80.00 to $60.00 in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have an equal weight rating on the semiconductor company's stock.

Other equities research analysts have also issued reports about the company. Citigroup dropped their price target on Qorvo from $72.00 to $69.00 and set a "sell" rating on the stock in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Qorvo in a research report on Wednesday, January 29th. Morgan Stanley upgraded shares of Qorvo from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. Piper Sandler raised shares of Qorvo from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, Mizuho raised their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Qorvo currently has an average rating of "Hold" and an average target price of $94.79.

Qorvo Stock Up 0.4 %

QRVO traded up $0.27 on Tuesday, hitting $63.78. The company had a trading volume of 988,983 shares, compared to its average volume of 2,148,434. The stock has a fifty day simple moving average of $67.31 and a 200-day simple moving average of $74.14. 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 firm has a market capitalization of $5.96 billion, a P/E ratio of 227.79, a P/E/G ratio of 15.57 and a beta of 1.43. Qorvo has a 52-week low of $49.46 and a 52-week high of $130.99.

Institutional Trading of Qorvo

A number of large investors have recently made changes to their positions in QRVO. City Holding Co. bought a new stake in Qorvo in the 1st quarter worth approximately $25,000. Rakuten Securities Inc. purchased a new position in shares of Qorvo in the 4th quarter worth $28,000. Huntington National Bank grew its holdings in shares of Qorvo by 47.1% in the fourth 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. Curat Global LLC purchased a new stake in Qorvo during the first quarter valued at $34,000. Finally, SBI Securities Co. Ltd. bought a new position in Qorvo in the fourth quarter valued at about $37,000. 88.57% of the stock is currently owned by institutional investors.

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.