Qorvo Inc (QRVO) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Qorvo Inc (NASDAQ:QRVO) have received an average rating of “Hold” from the thirty-one ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $77.52.
Several research firms recently commented on QRVO. Zacks Investment Research reaffirmed a “buy” rating and issued a $88.00 price target on shares of Qorvo in a report on Wednesday, November 14th. Morgan Stanley cut their price target on Qorvo from $68.00 to $63.00 and set an “equal weight” rating for the company in a report on Monday. JPMorgan Chase & Co. set a $80.00 price target on Qorvo and gave the company a “buy” rating in a report on Friday, January 4th. ValuEngine raised Qorvo from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Loop Capital cut their price target on Qorvo to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 14th.
Shares of Qorvo stock traded up $1.83 during mid-day trading on Friday, reaching $63.69. 1,506,371 shares of the stock traded hands, compared to its average volume of 1,857,609. Qorvo has a fifty-two week low of $54.74 and a fifty-two week high of $86.84. The stock has a market capitalization of $7.55 billion, a P/E ratio of 13.32, a PEG ratio of 1.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.50 and a quick ratio of 2.48.
In other news, insider Robert A. Bruggeworth sold 5,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $72.65, for a total transaction of $363,250.00. Following the completion of the transaction, the insider now directly owns 180,572 shares in the company, valued at $13,118,555.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert A. Bruggeworth sold 4,500 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $60.81, for a total value of $273,645.00. Following the transaction, the insider now owns 169,746 shares of the company’s stock, valued at $10,322,254.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,356 shares of company stock valued at $1,622,941. Company insiders own 0.85% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Kalos Management Inc. boosted its holdings in Qorvo by 7.1% in the second quarter. Kalos Management Inc. now owns 11,217 shares of the semiconductor company’s stock valued at $899,000 after purchasing an additional 747 shares during the period. IFM Investors Pty Ltd boosted its holdings in Qorvo by 15.8% in the third quarter. IFM Investors Pty Ltd now owns 7,060 shares of the semiconductor company’s stock valued at $543,000 after purchasing an additional 965 shares during the period. Raymond James & Associates boosted its holdings in Qorvo by 2.1% in the second quarter. Raymond James & Associates now owns 56,233 shares of the semiconductor company’s stock valued at $4,508,000 after purchasing an additional 1,141 shares during the period. Macquarie Group Ltd. boosted its holdings in Qorvo by 1.7% in the third quarter. Macquarie Group Ltd. now owns 70,000 shares of the semiconductor company’s stock valued at $5,382,000 after purchasing an additional 1,200 shares during the period. Finally, Cerebellum GP LLC boosted its holdings in Qorvo by 123.5% in the third quarter. Cerebellum GP LLC now owns 2,461 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 1,360 shares during the period. Hedge funds and other institutional investors own 94.29% of the company’s stock.
Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
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