J P Morgan Chase & Co set a $88.00 price objective on Qorvo, Inc. (NASDAQ:QRVO) in a research note issued to investors on Wednesday morning. The firm currently has a buy rating on the semiconductor company’s stock.
QRVO has been the topic of a number of other research reports. Instinet started coverage on Qorvo in a report on Wednesday, September 6th. They set a neutral rating and a $75.00 price target on the stock. Craig Hallum reissued a buy rating on shares of Qorvo in a report on Wednesday, September 13th. Mizuho reissued a hold rating and set a $70.00 price target on shares of Qorvo in a report on Monday, October 9th. TheStreet lowered Qorvo from a b rating to a c rating in a report on Wednesday, August 2nd. Finally, KeyCorp reissued a sector perform rating on shares of Qorvo in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $76.74.
Qorvo (NASDAQ QRVO) traded down $0.58 on Wednesday, hitting $77.33. The stock had a trading volume of 898,968 shares, compared to its average volume of 1,507,870. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.80 and a quick ratio of 2.71. Qorvo has a twelve month low of $49.53 and a twelve month high of $81.20. The firm has a market capitalization of $9,910.00 and a PE ratio of 19.60.
Qorvo (NASDAQ:QRVO) last posted its earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.52. Qorvo had a positive return on equity of 10.77% and a negative net margin of 0.59%. The business had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $810.47 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. equities research analysts forecast that Qorvo will post 4.74 earnings per share for the current fiscal year.
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In other news, VP James L. Klein sold 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $72.93, for a total transaction of $189,618.00. Following the sale, the vice president now owns 42,993 shares of the company’s stock, valued at approximately $3,135,479.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gina Harrison sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $73.41, for a total value of $367,050.00. Following the sale, the vice president now directly owns 17,230 shares in the company, valued at approximately $1,264,854.30. The disclosure for this sale can be found here. Insiders have sold a total of 47,500 shares of company stock worth $3,513,885 in the last three months. Corporate insiders own 0.91% of the company’s stock.
Several large investors have recently made changes to their positions in QRVO. Penserra Capital Management LLC purchased a new stake in shares of Qorvo during the 3rd quarter worth approximately $130,000. Federated Investors Inc. PA boosted its stake in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after acquiring an additional 90 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Qorvo by 79.9% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 1,000 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Qorvo by 5.1% during the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after acquiring an additional 126 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in shares of Qorvo by 400.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock worth $177,000 after acquiring an additional 2,237 shares in the last quarter. 94.55% of the stock is currently owned by institutional investors and hedge funds.
Qorvo Company Profile
Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
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