Qorvo (NASDAQ:QRVO - Get Free Report) had its target price upped by investment analysts at UBS Group from $75.00 to $95.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. UBS Group's target price would suggest a potential upside of 4.87% from the company's current price.
A number of other research firms have also recently weighed in on QRVO. Loop Capital cut their price objective on shares of Qorvo from $90.00 to $75.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Benchmark raised shares of Qorvo from a "hold" rating to a "buy" rating and set a $95.00 price objective on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of Qorvo in a report on Thursday, July 10th. They issued a "neutral" rating and a $90.00 price target on the stock. Stifel Nicolaus set a $75.00 price target on shares of Qorvo in a report on Monday, April 28th. Finally, TD Cowen cut their price target on shares of Qorvo from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Qorvo currently has a consensus rating of "Hold" and an average price target of $91.79.
Check Out Our Latest Report on Qorvo
Qorvo Stock Performance
Shares of NASDAQ:QRVO traded up $2.02 during midday trading on Monday, hitting $90.59. The company had a trading volume of 198,616 shares, compared to its average volume of 2,253,340. Qorvo has a 12-month low of $49.46 and a 12-month high of $125.88. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 155.96, a PEG ratio of 2.36 and a beta of 1.39. The company has a fifty day moving average of $81.65 and a two-hundred day moving average of $75.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.77 and a quick ratio of 1.95.
Qorvo (NASDAQ:QRVO - Get Free Report) last released its earnings results on Tuesday, April 29th. The semiconductor company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.42. Qorvo had a net margin of 1.50% and a return on equity of 12.48%. The company had revenue of $869.47 million for the quarter, compared to analysts' expectations of $850.13 million. During the same quarter last year, the business earned $1.39 EPS. The firm's revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts expect that Qorvo will post 4.09 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director John R. Harding sold 1,450 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $70.09, for a total transaction of $101,630.50. Following the transaction, the director directly owned 7,597 shares in the company, valued at approximately $532,473.73. The trade was a 16.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of QRVO. Jericho Capital Asset Management L.P. acquired a new position in shares of Qorvo during the 1st quarter valued at about $168,980,000. Contour Asset Management LLC acquired a new position in Qorvo in the first quarter valued at about $151,698,000. Ameriprise Financial Inc. lifted its holdings in shares of Qorvo by 102.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company's stock worth $251,577,000 after acquiring an additional 1,816,811 shares during the last quarter. Norges Bank acquired a new position in shares of Qorvo in the 4th quarter worth approximately $71,825,000. Finally, Vulcan Value Partners LLC lifted its holdings in shares of Qorvo by 53.7% in the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company's stock worth $180,487,000 after acquiring an additional 902,353 shares during the last quarter. Institutional investors and hedge funds 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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