Qorvo (NASDAQ:QRVO) PT Lowered to $100.00 at Piper Sandler

Qorvo (NASDAQ:QRVO) had its price target reduced by Piper Sandler from $120.00 to $100.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $130.00 to $120.00 in a research report on Friday, October 11th. JPMorgan Chase & Co. increased 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 boosted their target price on Qorvo from $124.00 to $142.00 and gave the company a “buy” rating in a research report 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, Raymond James lifted their price objective on Qorvo from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $119.86.

Qorvo Stock Down 0.5 %

Shares of NASDAQ QRVO opened at $99.01 on Friday. The company has a market capitalization of $9.41 billion, a P/E ratio of -135.63, a P/E/G ratio of 1.22 and a beta of 1.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.95 and a quick ratio of 1.36. The company has a 50 day simple moving average of $105.32 and a 200-day simple moving average of $108.17. Qorvo has a 1 year low of $80.62 and a 1 year high of $130.99.

Qorvo (NASDAQ:QRVO) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.16. Qorvo had a positive return on equity of 14.92% and a negative net margin of 0.66%. The company had revenue of $886.70 million during the quarter, compared to analysts’ expectations of $851.95 million. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 36.2% compared to the same quarter last year. On average, equities research analysts predict that Qorvo will post 4.84 earnings per share for the current year.

Insider Transactions at Qorvo

In related news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

A number of institutional investors have recently bought and sold shares of QRVO. Capital Research Global Investors raised its position in shares of Qorvo by 2.1% during the 1st quarter. Capital Research Global Investors now owns 4,591,985 shares of the semiconductor company’s stock worth $527,298,000 after acquiring an additional 93,068 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in Qorvo by 35.0% during the second 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. lifted its position in shares of Qorvo by 17,255.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock worth $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Qorvo by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,323,463 shares of the semiconductor company’s stock worth $153,558,000 after buying an additional 4,386 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Qorvo by 20.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 780,203 shares of the semiconductor company’s stock valued at $90,535,000 after buying an additional 132,866 shares in the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

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.