Qorvo (NASDAQ:QRVO) Lowered to Hold at StockNews.com

StockNews.com cut shares of Qorvo (NASDAQ:QRVO) from a buy rating to a hold rating in a research note published on Tuesday.

Several other research analysts have also recently weighed in on the stock. Susquehanna decreased their price objective on shares of Qorvo from $100.00 to $95.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Barclays reduced their target price on shares of Qorvo from $110.00 to $100.00 and set an equal weight rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Qorvo from $105.00 to $100.00 and set an underweight rating for the company in a research report on Thursday, May 2nd. Mizuho dropped their price target on shares of Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Finally, Benchmark dropped their price target on shares of Qorvo from $136.00 to $128.00 and set a buy rating for the company in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $110.83.

Qorvo Trading Up 1.7 %

NASDAQ:QRVO opened at $115.43 on Tuesday. Qorvo has a one year low of $80.62 and a one year high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.41. The company’s 50-day simple moving average is $104.27 and its 200 day simple moving average is $108.51. The firm has a market capitalization of $11.04 billion, a P/E ratio of -158.12, a PEG ratio of 1.10 and a beta of 1.44.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million for the quarter, compared to analyst estimates of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. Qorvo’s quarterly revenue was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, analysts forecast that Qorvo will post 5.16 EPS for the current fiscal year.

Insider Activity

In related news, Director John R. Harding sold 941 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total value of $91,615.76. Following the transaction, the director now owns 6,950 shares of the company’s stock, valued at approximately $676,652. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Qorvo news, SVP Paul J. Fego sold 2,132 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $211,728.92. Following the transaction, the senior vice president now owns 25,201 shares of the company’s stock, valued at approximately $2,502,711.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Harding sold 941 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the transaction, the director now directly owns 6,950 shares in the company, valued at approximately $676,652. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,372 shares of company stock valued at $4,517,858. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Qorvo

Institutional investors have recently modified their holdings of the company. Highland Capital Management LLC boosted its holdings in shares of Qorvo by 48.9% in the 4th quarter. Highland Capital Management LLC now owns 42,790 shares of the semiconductor company’s stock valued at $4,819,000 after buying an additional 14,060 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Qorvo by 298.9% in the 4th quarter. SG Americas Securities LLC now owns 17,803 shares of the semiconductor company’s stock valued at $2,005,000 after buying an additional 13,340 shares in the last quarter. FIL Ltd boosted its holdings in shares of Qorvo by 4.5% in the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after buying an additional 120,213 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Qorvo by 14.6% in the 4th quarter. Rafferty Asset Management LLC now owns 647,517 shares of the semiconductor company’s stock valued at $72,917,000 after buying an additional 82,426 shares in the last quarter. Finally, Bridgefront Capital LLC boosted its stake in Qorvo by 28.6% in the 4th quarter. Bridgefront Capital LLC now owns 3,773 shares of the semiconductor company’s stock worth $425,000 after purchasing an additional 838 shares in the last quarter. 88.57% of the stock is currently owned by 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.