Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Price Target at $121.00

Qorvo, Inc. (NASDAQ:QRVO) has been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $121.00.

Several equities analysts have recently commented on QRVO shares. Rosenblatt Securities increased their target price on Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on Qorvo from $105.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com cut Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, TD Cowen raised their price objective on Qorvo from $110.00 to $125.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st.

Qorvo Stock Up 2.5 %

QRVO opened at $107.17 on Monday. The firm has a 50 day moving average price of $114.57 and a 200 day moving average price of $111.02. The company has a market cap of $10.17 billion, a PE ratio of -146.81, a price-to-earnings-growth ratio of 1.26 and a beta of 1.46. Qorvo has a 1 year low of $80.62 and a 1 year high of $130.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95.

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

Insiders Place Their Bets

In other Qorvo news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $107.67, for a total transaction of $74,184.63. Following the transaction, the vice president now owns 21,601 shares of the company’s stock, valued at approximately $2,325,779.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Several large investors have recently made changes to their positions in the company. Mather Group LLC. grew its stake in shares of Qorvo by 5.6% in the 2nd quarter. Mather Group LLC. now owns 1,812 shares of the semiconductor company’s stock valued at $208,000 after buying an additional 96 shares in the last quarter. Quadrature Capital Ltd boosted its position in Qorvo by 0.4% during the fourth quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after purchasing an additional 103 shares during the period. EverSource Wealth Advisors LLC boosted its position in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the period. Empirical Finance LLC boosted its position in Qorvo by 3.2% during the first quarter. Empirical Finance LLC now owns 3,768 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 117 shares during the period. Finally, GAMMA Investing LLC boosted its position in Qorvo by 12.9% during the first quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 119 shares during the period. Institutional investors own 88.57% of the company’s stock.

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.