Qorvo (NASDAQ:QRVO – Get Free Report) had its target price lifted by stock analysts at Mizuho from $80.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Mizuho’s price target suggests a potential upside of 1.19% from the stock’s current price.
Several other equities research analysts also recently issued reports on the company. Susquehanna cut their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Raymond James cut Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Benchmark lowered Qorvo from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $106.00 in a report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $98.24.
View Our Latest Analysis on Qorvo
Qorvo Stock Down 1.8 %
Qorvo (NASDAQ:QRVO – Get Free Report) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company earned $1.99 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities analysts predict that Qorvo will post 3.37 EPS for the current fiscal year.
Insider Activity
In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total value of $283,756.75. Following the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.
Institutional Investors Weigh In On Qorvo
A number of large investors have recently modified their holdings of QRVO. Larson Financial Group LLC lifted its position in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after buying an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Qorvo in the 3rd quarter valued at approximately $41,000. Versant Capital Management Inc grew its holdings in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 286 shares during the last quarter. Farther Finance Advisors LLC increased its position in Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its position in Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 734 shares in the last quarter. Institutional investors and hedge funds 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.
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