Qorvo (NASDAQ:QRVO) received a $70.00 price target from equities researchers at Mizuho in a research report issued on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the semiconductor company’s stock. Mizuho’s price target would suggest a potential downside of 0.20% from the company’s previous close.
Several other equities analysts have also recently weighed in on the stock. Barclays cut shares of Qorvo from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $70.00 to $60.00 in a research note on Thursday, June 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of Qorvo in a research note on Monday. Zacks Investment Research cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Morgan Stanley raised their price target on shares of Qorvo from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Craig Hallum reaffirmed a “buy” rating and set a $85.00 price target (up from $75.00) on shares of Qorvo in a research note on Friday. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.86.
QRVO stock traded up $1.99 during mid-day trading on Friday, hitting $70.14. 103,593 shares of the company were exchanged, compared to its average volume of 1,203,841. The company has a current ratio of 3.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.23. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 2.16 and a beta of 1.09. The business has a 50 day simple moving average of $69.62. Qorvo has a 1-year low of $54.74 and a 1-year high of $86.50.
In other news, VP James L. Klein sold 1,914 shares of Qorvo stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $72.00, for a total transaction of $137,808.00. Following the completion of the sale, the vice president now owns 53,859 shares of the company’s stock, valued at $3,877,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, May 10th. The stock was sold at an average price of $74.84, for a total value of $224,520.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,573 shares of company stock valued at $2,488,757. Company insiders own 0.71% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Campbell Newman Asset Management Inc. lifted its holdings in shares of Qorvo by 3.6% during the first quarter. Campbell Newman Asset Management Inc. now owns 3,990 shares of the semiconductor company’s stock worth $286,000 after buying an additional 139 shares in the last quarter. ETF Managers Group LLC raised its stake in Qorvo by 7.9% in the first quarter. ETF Managers Group LLC now owns 2,031 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 149 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Qorvo by 2.1% in the second quarter. Commonwealth Equity Services LLC now owns 7,832 shares of the semiconductor company’s stock valued at $521,000 after purchasing an additional 158 shares in the last quarter. Diversified Trust Co raised its stake in Qorvo by 4.0% in the first quarter. Diversified Trust Co now owns 4,507 shares of the semiconductor company’s stock valued at $323,000 after purchasing an additional 172 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Qorvo by 3.2% in the second quarter. World Asset Management Inc now owns 8,179 shares of the semiconductor company’s stock valued at $545,000 after purchasing an additional 253 shares in the last quarter. 93.77% of the stock is owned by institutional investors.
Qorvo Company Profile
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.
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