Qorvo (NASDAQ:QRVO) PT Lowered to $100.00

Qorvo (NASDAQ:QRVO) had its price objective dropped by analysts at Piper Sandler from $120.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s target price points to a potential upside of 1.00% from the stock’s current price.

Several other research firms have also recently weighed in on QRVO. 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 note on Friday, October 11th. TD Cowen raised shares of Qorvo to a “hold” rating in a research report on Monday, September 16th. Needham & Company LLC upped their target price on shares of Qorvo from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Raymond James lifted their price target on Qorvo from $115.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Barclays dropped their price objective on Qorvo from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $119.86.

Qorvo Trading Down 0.5 %

Shares of NASDAQ:QRVO opened at $99.01 on Friday. The company’s 50-day moving average price is $105.32 and its two-hundred day moving average price is $108.20. Qorvo has a one year low of $80.62 and a one year high of $130.99. 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 stock has a market capitalization of $9.41 billion, a PE ratio of -135.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Qorvo (NASDAQ:QRVO) last released 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 business had revenue of $886.70 million for the quarter, compared to analyst estimates of $851.95 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Qorvo’s revenue was up 36.2% on a year-over-year basis. On average, equities analysts forecast that Qorvo will post 4.84 EPS for the current fiscal year.

Insider Transactions at Qorvo

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

Hedge Funds Weigh In On Qorvo

A number of hedge funds have recently added to or reduced their stakes in QRVO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Qorvo during the 2nd quarter worth $29,000. Park Place Capital Corp lifted its position in Qorvo by 398.1% during the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 207 shares during the period. EverSource Wealth Advisors LLC grew its stake in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after buying an additional 115 shares in the last quarter. Versant Capital Management Inc increased its holdings in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the period. Finally, New Millennium Group LLC acquired a new position in shares of Qorvo in the 2nd quarter valued at approximately $34,000. Institutional investors own 88.57% of the company’s stock.

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.