Qorvo (QRVO) – Investment Analysts’ Weekly Ratings Changes

Qorvo (NASDAQ: QRVO) recently received a number of ratings updates from brokerages and research firms:

• 6/25/2024 – Qorvo was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 6/17/2024 – Qorvo was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 6/12/2024 – Qorvo had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $105.00 price target on the stock.
• 6/12/2024 – Qorvo had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $110.00 price target on the stock.
• 6/7/2024 – Qorvo was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 5/30/2024 – Qorvo was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/11/2024 – Qorvo was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 5/3/2024 – Qorvo had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $117.00 to $105.00. They now have a “neutral” rating on the stock.
• 5/3/2024 – Qorvo was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/2/2024 – Qorvo had its price target lowered by analysts at JPMorgan Chase & Co. from $105.00 to $100.00. They now have an “underweight” rating on the stock.
• 5/2/2024 – Qorvo had its price target lowered by analysts at Susquehanna from $100.00 to $95.00. They now have a “neutral” rating on the stock.
• 5/2/2024 – Qorvo had its price target lowered by analysts at Mizuho from $115.00 to $105.00. They now have a “neutral” rating on the stock.
• 5/2/2024 – Qorvo had its price target lowered by analysts at Barclays PLC from $110.00 to $100.00. They now have an “equal weight” rating on the stock.
• 5/2/2024 – Qorvo had its price target lowered by analysts at Benchmark Co. from $136.00 to $128.00. They now have a “buy” rating on the stock.
• 5/2/2024 – Qorvo had its price target lowered by analysts at Needham & Company LLC from $125.00 to $110.00. They now have a “buy” rating on the stock.

Qorvo Stock Up 3.2 %

QRVO stock opened at $116.04 on Monday. 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 has a 50-day moving average of $104.67 and a two-hundred day moving average of $108.67. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of -158.96, a price-to-earnings-growth ratio of 1.12 and a beta of 1.46. Qorvo, Inc. has a 52-week low of $80.62 and a 52-week high of $121.65.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The firm’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, equities research analysts anticipate that Qorvo, Inc. will post 5.16 EPS for the current year.

Insider Transactions at Qorvo

In other news, Director John R. Harding sold 941 shares of the business’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 owns 6,950 shares in the company, valued at approximately $676,652. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Qorvo news, SVP Paul J. Fego sold 2,132 shares of Qorvo stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $99.31, for a total transaction of $211,728.92. Following the sale, the senior vice president now owns 25,201 shares in the company, valued at $2,502,711.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Harding sold 941 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $97.36, for a total transaction of $91,615.76. Following the completion of the transaction, the director now owns 6,950 shares of the company’s stock, 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 worth $4,517,858. Insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QRVO. Zhang Financial LLC boosted its stake in shares of Qorvo by 2.7% in the 4th quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock valued at $434,000 after purchasing an additional 102 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in Qorvo by 0.4% during the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock valued at $2,825,000 after purchasing an additional 103 shares during the last quarter. Wahed Invest LLC boosted its position in Qorvo by 7.5% in the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock valued at $147,000 after buying an additional 108 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 115 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of 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 buying an additional 117 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

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.