Research Analysts’ Weekly Ratings Updates for Qorvo (QRVO)

Several analysts have recently updated their ratings and price targets for Qorvo (NASDAQ: QRVO):

  • 5/13/2019 – Qorvo was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $84.00 price target on the stock. According to Zacks, “Qorvo is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure and aerospace/defense applications. The company benefited from increased demand in the performance-tier for RF Fusion based solutions, antenna tuning, discrete components and BAW-based multiplexers. The company’s 5G and GaN solutions hold promise. Further, robust growth in company’s wireless connectivity as well as in base station solutions is a positive. However, the company faces challenges owing to weakness in flagship smartphone product volumes and softness in China domestic market. Qorvo operates in a competitive landscape that is becoming more complex with low barriers to entry. Customer concentration from the likes of Apple and Huawei, among others is a headwind.”
  • 5/9/2019 – Qorvo had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $80.00 price target on the stock.
  • 5/8/2019 – Qorvo had its price target raised by analysts at Raymond James from $70.00 to $90.00. They now have an “outperform” rating on the stock.
  • 5/8/2019 – Qorvo had its price target raised by analysts at Mizuho from $71.00 to $75.00. They now have a “neutral” rating on the stock.
  • 5/8/2019 – Qorvo had its “market perform” rating reaffirmed by analysts at Cowen Inc. They now have a $75.00 price target on the stock, up previously from $65.00.
  • 5/8/2019 – Qorvo had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $85.00 price target on the stock, up previously from $72.00.
  • 5/8/2019 – Qorvo was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a $87.00 price target on the stock, up previously from $70.00.
  • 5/8/2019 – Qorvo had its price target raised by analysts at DA Davidson from $6.00 to $82.00.
  • 4/30/2019 – Qorvo was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “sell” rating. According to Zacks, “Qorvo provides core technologies and radio frequency (RF) solutions. The company is bearing the brunt of softness in China domestic market and weakness in flagship smartphone product volumes. Furthermore, Qorvo operates in a competitive landscape that is becoming more complex with low barriers to entry. Customer concentration from the likes of Apple and Huawei, among others is a headwind. Nonetheless, the company is expected to benefit from robust demand of its performance-tier for RF Fusion based solutions, antenna tuning, discrete components and BAW-based multiplexers. Also, progress in IDP segment and stringent cost control measures bode well.”
  • 4/10/2019 – Qorvo was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $84.00 price target on the stock. According to Zacks, “Qorvo provides core technologies and radio frequency (RF) solutions. The company is expected to benefit from robust demand of its performance-tier for RF Fusion based solutions, antenna tuning, discrete components and BAW-based multiplexers. Also, progress in IDP segment and stringent cost control measures bode well. Notably, shares of Qorvo have outperformed the industry in the past one month. Nonetheless, Qorvo faces challenges owing to weakness in flagship smartphone product volumes and softness in China domestic market. Qorvo operates in a competitive landscape that is becoming more complex with low barriers to entry. Customer concentration from the likes of Apple and Huawei, among others is a headwind.”
  • 3/25/2019 – Qorvo was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 3/21/2019 – Qorvo was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating. They now have a $79.00 price target on the stock, up previously from $66.00.

Shares of NASDAQ:QRVO traded down $2.23 during trading on Monday, reaching $61.70. The company had a trading volume of 735,181 shares, compared to its average volume of 1,706,259. The firm has a market cap of $7.85 billion, a P/E ratio of 11.75, a PEG ratio of 1.09 and a beta of 0.92. The company has a current ratio of 3.87, a quick ratio of 2.69 and a debt-to-equity ratio of 0.21. Qorvo Inc has a fifty-two week low of $54.74 and a fifty-two week high of $86.50.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.23. The firm had revenue of $680.88 million for the quarter, compared to analyst estimates of $670.59 million. Qorvo had a return on equity of 14.66% and a net margin of 4.31%. Qorvo’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. Research analysts forecast that Qorvo Inc will post 5.13 EPS for the current fiscal year.

In other Qorvo news, VP James L. Klein sold 1,914 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $77.16, for a total transaction of $147,684.24. Following the completion of the sale, the vice president now directly owns 45,374 shares in the company, valued at $3,501,057.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ralph Quinsey sold 209,349 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $69.01, for a total value of $14,447,174.49. Following the sale, the director now owns 84,242 shares of the company’s stock, valued at $5,813,540.42. The disclosure for this sale can be found here. Insiders have sold 246,024 shares of company stock worth $17,108,361 over the last quarter. 0.85% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in QRVO. Ameritas Investment Corp bought a new position in Qorvo during the 1st quarter worth approximately $30,000. Resources Investment Advisors Inc. bought a new position in Qorvo during the fourth quarter valued at about $27,000. CSat Investment Advisory L.P. increased its stake in Qorvo by 82.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 534 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 242 shares during the period. Lavaca Capital LLC bought a new position in Qorvo during the first quarter valued at about $45,000. Finally, Enlightenment Research LLC bought a new position in Qorvo during the fourth quarter valued at about $43,000. Institutional investors own 91.52% of the company’s stock.

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

Read More: Understanding Analyst Recommendations

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