Qorvo (QRVO) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Qorvo (NASDAQ:QRVO) from a hold rating to a sell rating in a report published on Saturday.

A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. set a $88.00 price target on shares of Qorvo and gave the stock a buy rating in a research note on Wednesday, November 15th. Craig Hallum cut shares of Qorvo from a buy rating to a hold rating and dropped their price target for the stock from $78.00 to $71.00 in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of Qorvo from a hold rating to a sell rating in a research note on Monday, January 22nd. Canaccord Genuity lifted their price target on shares of Qorvo from $81.00 to $87.00 and gave the stock a buy rating in a research note on Thursday, November 2nd. Finally, Northland Securities cut shares of Qorvo from an outperform rating to a market perform rating in a research note on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $80.42.

Qorvo (NASDAQ:QRVO) opened at $77.31 on Friday. Qorvo has a 52 week low of $62.68 and a 52 week high of $85.24. The company has a current ratio of 4.72, a quick ratio of 3.62 and a debt-to-equity ratio of 0.23. The company has a market cap of $9,779.25, a PE ratio of 386.55, a P/E/G ratio of 1.36 and a beta of 1.05.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The firm had revenue of $845.70 million during the quarter, compared to analysts’ expectations of $841.09 million. During the same period in the previous year, the company earned $1.35 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. analysts predict that Qorvo will post 4.49 earnings per share for the current year.

In other news, Director Daniel A. Dileo sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $369,760. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Walter H. Wilkinson sold 15,925 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.02, for a total transaction of $1,274,318.50. Following the completion of the sale, the director now owns 62,480 shares of the company’s stock, valued at approximately $4,999,649.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,496 shares of company stock valued at $3,393,399. Company insiders own 0.91% of the company’s stock.

Several large investors have recently bought and sold shares of QRVO. Penserra Capital Management LLC bought a new stake in shares of Qorvo in the 3rd quarter valued at about $130,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Qorvo by 79.9% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Qorvo by 5.1% in the 2nd quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 126 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in shares of Qorvo in the 2nd quarter valued at about $188,000. Finally, Zeke Capital Advisors LLC bought a new position in shares of Qorvo during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 98.19% of the company’s stock.

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About Qorvo

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).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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