Qorvo, Inc. (NASDAQ:QRVO)‘s stock had its “buy” rating reiterated by analysts at Craig Hallum in a research note issued to investors on Wednesday.
Several other equities analysts also recently weighed in on QRVO. Mizuho reiterated a “hold” rating and set a $70.00 target price on shares of Qorvo in a research report on Friday, August 4th. KeyCorp reiterated a “sector perform” rating on shares of Qorvo in a research report on Thursday. BidaskClub upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. MKM Partners reiterated a “buy” rating and set a $90.00 target price (up from $78.00) on shares of Qorvo in a research report on Tuesday, May 30th. Finally, Canaccord Genuity lifted their target price on Qorvo from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the stock. Qorvo currently has an average rating of “Hold” and a consensus target price of $73.45.
Shares of Qorvo (NASDAQ QRVO) traded up 1.0075% during mid-day trading on Wednesday, hitting $73.7456. The company’s stock had a trading volume of 342,544 shares. The company’s market cap is $9.39 billion. Qorvo has a 52-week low of $19.18 and a 52-week high of $74.69. The stock’s 50 day moving average price is $46.06 and its 200 day moving average price is $57.57.
Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. The firm had revenue of $640.80 million for the quarter, compared to the consensus estimate of $632.18 million. Qorvo had a positive return on equity of 10.10% and a negative net margin of 1.40%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. Equities analysts forecast that Qorvo will post $5.54 EPS for the current year.
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In other Qorvo news, VP James L. Klein sold 2,600 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $63.49, for a total value of $165,074.00. Following the sale, the vice president now directly owns 40,058 shares of the company’s stock, valued at $2,543,282.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Gina Harrison sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $73.41, for a total transaction of $367,050.00. Following the completion of the sale, the vice president now directly owns 17,230 shares in the company, valued at $1,264,854.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,919 shares of company stock worth $5,379,553. 0.91% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Baupost Group LLC MA purchased a new stake in Qorvo in the first quarter valued at $492,639,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Qorvo by 16.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 433,541 shares of the semiconductor company’s stock valued at $27,452,000 after purchasing an additional 59,712 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its holdings in Qorvo by 25.7% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 37,420 shares of the semiconductor company’s stock valued at $2,369,000 after purchasing an additional 7,661 shares during the last quarter. British Columbia Investment Management Corp boosted its holdings in Qorvo by 105.0% in the first quarter. British Columbia Investment Management Corp now owns 46,806 shares of the semiconductor company’s stock valued at $3,209,000 after purchasing an additional 23,973 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Qorvo by 24.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,415 shares of the semiconductor company’s stock valued at $508,000 after purchasing an additional 1,438 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors.
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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