Qorvo (NASDAQ:QRVO – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.
QRVO has been the subject of a number of other research reports. Summit Insights downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Susquehanna dropped their price objective on shares of Qorvo from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 24th. Barclays decreased their target price on shares of Qorvo from $110.00 to $95.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $134.00 in a report on Friday, December 8th. Finally, Piper Sandler downgraded shares of Qorvo from an “overweight” rating to a “neutral” rating and set a $120.00 price target for the company. in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Qorvo has a consensus rating of “Hold” and an average target price of $109.11.
Qorvo Stock Down 1.4 %
Qorvo stock opened at $102.30 on Friday. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $114.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.12 and a current ratio of 3.37. The firm has a 50 day moving average price of $101.52 and a 200 day moving average price of $99.95. The company has a market capitalization of $9.96 billion, a PE ratio of -102.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.54.
Qorvo (NASDAQ:QRVO – Get Free Report) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.49 by $0.50. Qorvo had a positive return on equity of 6.92% and a negative net margin of 3.21%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1 billion. Research analysts expect that Qorvo will post 4.46 earnings per share for the current year.
Insider Activity
In other Qorvo news, Director Walden C. Rhines acquired 5,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were bought at an average cost of $93.19 per share, for a total transaction of $465,950.00. Following the acquisition, the director now directly owns 67,145 shares of the company’s stock, valued at $6,257,242.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Walden C. Rhines bought 5,000 shares of the stock in a transaction on Monday, November 27th. The shares were purchased at an average price of $93.19 per share, for a total transaction of $465,950.00. Following the completion of the purchase, the director now directly owns 67,145 shares of the company’s stock, valued at approximately $6,257,242.55. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Philip Chesley sold 10,580 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $97.72, for a total value of $1,033,877.60. Following the sale, the senior vice president now owns 29,539 shares of the company’s stock, valued at approximately $2,886,551.08. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.
Institutional Investors Weigh In On Qorvo
Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Qorvo in the 1st quarter valued at $40,000. AlphaCrest Capital Management LLC grew its holdings in Qorvo by 23.2% during the 1st quarter. AlphaCrest Capital Management LLC now owns 3,640 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 685 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Qorvo by 4.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,508 shares of the semiconductor company’s stock valued at $1,800,000 after buying an additional 673 shares during the period. Cibc World Market Inc. lifted its position in Qorvo by 10.4% in the 1st quarter. Cibc World Market Inc. now owns 8,979 shares of the semiconductor company’s stock valued at $1,114,000 after acquiring an additional 843 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Qorvo by 18.0% in the 1st quarter. Sei Investments Co. now owns 120,566 shares of the semiconductor company’s stock valued at $15,024,000 after acquiring an additional 18,397 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.
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.