Susquehanna Trims Qorvo (NASDAQ:QRVO) Target Price to $95.00

Qorvo (NASDAQ:QRVO) had its price objective cut by Susquehanna from $100.00 to $95.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler decreased their target price on shares of Qorvo from $120.00 to $105.00 and set a neutral rating for the company in a research report on Thursday, February 1st. StockNews.com downgraded Qorvo from a buy rating to a hold rating in a research note on Thursday, February 8th. Needham & Company LLC lowered their price target on Qorvo from $125.00 to $110.00 and set a buy rating for the company in a report on Thursday. Mizuho dropped their target price on shares of Qorvo from $115.00 to $105.00 and set a neutral rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Qorvo from $95.00 to $105.00 and gave the company an underweight rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $110.83.

Qorvo Trading Up 0.3 %

QRVO opened at $95.95 on Thursday. The business has a fifty day moving average of $113.15 and a 200 day moving average of $105.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo has a 52-week low of $80.62 and a 52-week high of $121.65.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18. The firm had revenue of $941.00 million during the quarter, compared to analyst estimates of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The business’s revenue was up 48.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, equities analysts predict that Qorvo will post 6.69 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the completion of the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

Large investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after purchasing an additional 3,347,972 shares during the period. FIL Ltd lifted its position in shares of Qorvo by 4.5% in the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after acquiring an additional 120,213 shares during the period. Invesco Ltd. grew its holdings in shares of Qorvo by 18.9% during the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after purchasing an additional 316,328 shares in the last quarter. Boston Partners increased its position in shares of Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock valued at $161,726,000 after purchasing an additional 6,558 shares during the period. Finally, UBS Group AG raised its stake in shares of Qorvo by 491.9% in the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after purchasing an additional 1,053,157 shares in the last quarter. 88.57% of the stock is owned by 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.