Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Recommendation of “Hold” by Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $96.6250.

Several analysts have recently commented on QRVO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Barclays raised Qorvo from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Craig Hallum reaffirmed a “buy” rating and issued a $120.00 target price on shares of Qorvo in a research report on Wednesday, May 6th. Zacks Research cut Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 16th. Finally, UBS Group raised their target price on Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th.

Qorvo Stock Performance

Shares of NASDAQ QRVO opened at $95.37 on Friday. The company has a quick ratio of 2.46, a current ratio of 3.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.52 and a beta of 1.43. The stock’s fifty day simple moving average is $94.88 and its 200 day simple moving average is $86.48. Qorvo has a 52-week low of $74.92 and a 52-week high of $109.49.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The business had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts forecast that Qorvo will post 5.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 4,714 shares of the firm’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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction 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 directly owned 71,038 shares in the company, valued at $7,103,800. This trade represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,966,127 shares of company stock worth $198,911,103. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Qorvo

Institutional investors have recently bought and sold shares of the company. Stance Capital LLC acquired a new stake in Qorvo during the third quarter valued at $27,000. Smartleaf Asset Management LLC boosted its position in Qorvo by 215.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 231 shares during the last quarter. Sound Income Strategies LLC boosted its position in Qorvo by 952.8% during the fourth quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 343 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Qorvo during the third quarter valued at $36,000. Finally, Clearstead Advisors LLC boosted its position in Qorvo by 93.3% during the third quarter. Clearstead Advisors LLC now owns 431 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds 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.