Qorvo (NASDAQ:QRVO) PT Lowered to $115.00

Qorvo (NASDAQ:QRVO) had its target price decreased by Susquehanna from $135.00 to $115.00 in a report issued on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the stock. Craig Hallum boosted their price objective on shares of Qorvo from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Piper Sandler reaffirmed a “neutral” rating and set a $120.00 price target (up previously from $105.00) on shares of Qorvo in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays cut their target price on shares of Qorvo from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Finally, TD Cowen upgraded shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Qorvo presently has a consensus rating of “Hold” and an average price target of $121.29.

Qorvo Price Performance

Qorvo stock opened at $102.20 on Monday. Qorvo has a 52 week low of $80.62 and a 52 week high of $130.99. The firm has a market cap of $9.71 billion, a P/E ratio of -140.00, a P/E/G ratio of 1.26 and a beta of 1.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The business’s fifty day moving average is $106.19 and its two-hundred day moving average is $108.59.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.16. The firm had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The company’s revenue was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. Equities research analysts forecast that Qorvo will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now directly owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Institutional Trading of Qorvo

A number of institutional investors have recently modified their holdings of the company. Capital Research Global Investors lifted its stake in Qorvo by 2.1% in the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock valued at $527,298,000 after acquiring an additional 93,068 shares in the last quarter. Vulcan Value Partners LLC lifted its position in shares of Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after purchasing an additional 550,111 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after purchasing an additional 1,418,784 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Qorvo by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock valued at $153,558,000 after purchasing an additional 4,386 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Qorvo by 20.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock valued at $90,535,000 after buying an additional 132,866 shares during the last quarter. 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.