Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Price Target at $94.00

Shares of Qorvo, Inc. (NASDAQ:QRVO) have received a consensus recommendation of “Hold” from the eighteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $94.00.

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Wolfe Research downgraded Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. increased their price objective 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. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Craig Hallum reaffirmed a “buy” rating and set a $120.00 price target on shares of Qorvo in a research note on Wednesday, May 6th.

Qorvo Stock Performance

NASDAQ:QRVO opened at $98.24 on Monday. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The firm’s fifty day moving average price is $92.48 and its 200 day moving average price is $87.69. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68. Qorvo has a 1-year low of $74.92 and a 1-year high of $109.49.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The company had revenue of $784.79 million during the quarter, compared to the consensus estimate of $743.28 million. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.Qorvo’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, sell-side analysts expect that Qorvo will post 6.3 EPS for the current year.

Insider Transactions at Qorvo

In other Qorvo news, SVP Paul J. Fego sold 2,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were 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 directly owned 71,038 shares of the company’s stock, valued at $7,103,800. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gina Harrison sold 4,714 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was 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 of the company’s stock, valued at $2,442,900. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. Company insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QRVO. Smartleaf Asset Management LLC lifted its position in shares of 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 purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC increased its position in Qorvo by 952.8% in the 4th 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 period. Global Retirement Partners LLC acquired a new position in shares of Qorvo during the second quarter valued at about $32,000. Advisory Services Network LLC acquired a new position in shares of Qorvo in the third quarter valued at $36,000. Finally, V Square Quantitative Management LLC acquired a new position in Qorvo in the fourth quarter worth about $39,000. Institutional investors own 88.57% of the company’s stock.

About Qorvo

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.