Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $96.63

Qorvo, Inc. (NASDAQ:QRVO) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $96.6250.

Several equities research analysts recently commented on the company. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $95.00 to $100.00 in a report on Wednesday, April 22nd. UBS Group boosted their target price on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Craig Hallum reissued a “buy” rating and set a $120.00 target price on shares of Qorvo in a report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th.

Insider Activity at Qorvo

In other Qorvo news, VP Gina Harrison sold 4,714 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the transaction, the vice president owned 24,429 shares in the company, valued at approximately $2,442,900. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of Qorvo stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president owned 71,038 shares in the company, valued at approximately $7,103,800. This trade represents a 3.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 8,170 shares of company stock worth $812,220. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Winnow Wealth LLC acquired a new position in Qorvo in the third quarter worth approximately $27,000. Stance Capital LLC acquired a new position in Qorvo in the third quarter worth approximately $27,000. Smartleaf Asset Management LLC grew its position in Qorvo by 215.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares during the last quarter. Sound Income Strategies LLC grew its position in Qorvo by 952.8% in the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock worth $30,000 after buying an additional 343 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Qorvo during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $103.56 on Wednesday. Qorvo has a 12 month low of $74.03 and a 12 month high of $109.49. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 1.62 and a beta of 1.43. The stock’s 50 day moving average price is $87.19 and its 200 day moving average price is $84.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.24 and a quick ratio of 2.46.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.21 by $0.48. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. During the same quarter in the previous year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Equities research analysts anticipate that Qorvo will post 5.87 earnings per share for the current fiscal year.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.