Susquehanna Trims Qorvo (NASDAQ:QRVO) Target Price to $115.00

Qorvo (NASDAQ:QRVO) had its price objective reduced by Susquehanna from $135.00 to $115.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the company. Raymond James raised their price target on Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Qorvo from $100.00 to $115.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 31st. Craig Hallum lifted their target price on shares of Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Rosenblatt Securities raised their price objective on shares of Qorvo from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC lifted their price objective on Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $121.29.

Qorvo Stock Down 0.6 %

Qorvo stock opened at $100.24 on Monday. The stock’s fifty day moving average is $105.82 and its two-hundred day moving average is $108.43. The stock has a market cap of $9.51 billion, a PE ratio of -345.66, a P/E/G ratio of 1.26 and a beta of 1.45. 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 current ratio of 1.95 and a quick ratio of 1.36.

Qorvo (NASDAQ:QRVO) last issued its earnings results 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 business had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. During the same quarter in the prior year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 36.2% on a year-over-year basis. On average, sell-side analysts expect that Qorvo will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its position in Qorvo by 2.1% during the first quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock worth $527,298,000 after buying an additional 93,068 shares in the last quarter. Vulcan Value Partners LLC increased its position in Qorvo by 35.0% during the 2nd 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. raised its stake in Qorvo by 17,255.9% in the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after purchasing an additional 1,418,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Qorvo by 0.3% in the 2nd 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. boosted its stake in shares of Qorvo by 20.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock worth $90,535,000 after purchasing an additional 132,866 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.