Qorvo Inc. (NASDAQ:QRVO)’s share price shot up 3.2% on Thursday . The stock traded as high as $54.94 and last traded at $54.24, with a volume of 697,538 shares trading hands. The stock had previously closed at $52.57.

Several brokerages recently weighed in on QRVO. Citigroup Inc. raised shares of Qorvo from a “sell” rating to a “neutral” rating and raised their price target for the company from $40.00 to $57.00 in a research report on Thursday, June 9th. Mizuho cut shares of Qorvo from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Friday, July 1st. Brean Capital reaffirmed a “buy” rating on shares of Qorvo in a research report on Wednesday, June 15th. Morgan Stanley began coverage on shares of Qorvo in a research report on Monday, June 27th. They issued an “equal weight” rating and a $56.00 price target on the stock. Finally, Zacks Investment Research cut shares of Qorvo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the stock. Qorvo has an average rating of “Buy” and a consensus price target of $61.27.

The stock’s market capitalization is $6.93 billion. The company’s 50-day moving average price is $53.22 and its 200-day moving average price is $47.34.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The business earned $608.10 million during the quarter, compared to analysts’ expectations of $599.32 million. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 earnings per share. Equities research analysts anticipate that Qorvo Inc. will post $4.89 earnings per share for the current fiscal year.

In other Qorvo news, CEO Robert A. Bruggeworth sold 46,250 shares of Qorvo stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $52.06, for a total value of $2,407,775.00. Following the completion of the transaction, the chief executive officer now directly owns 286,170 shares of the company’s stock, valued at approximately $14,898,010.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert A. Bruggeworth sold 1,096 shares of Qorvo stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $47.96, for a total transaction of $52,564.16. Following the completion of the transaction, the chief executive officer now directly owns 249,106 shares of the company’s stock, valued at $11,947,123.76. The disclosure for this sale can be found here.

Several institutional investors have modified their holdings of the company. Paradigm Capital Management Inc. NY boosted its position in shares of Qorvo by 6.8% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 72,955 shares of the company’s stock worth $3,714,000 after buying an additional 4,625 shares during the last quarter. Systematic Financial Management LP boosted its position in shares of Qorvo by 4.5% in the fourth quarter. Systematic Financial Management LP now owns 229,156 shares of the company’s stock worth $11,664,000 after buying an additional 9,960 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Qorvo during the fourth quarter worth approximately $6,897,000. State of New Jersey Common Pension Fund D boosted its position in shares of Qorvo by 6.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 783,740 shares of the company’s stock worth $39,892,000 after buying an additional 50,000 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of Qorvo by 5.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 19,797 shares of the company’s stock worth $1,008,000 after buying an additional 1,036 shares during the last quarter.

Qorvo, Inc provides core technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company offers amplification, filtering and switching products for RF, microwave and millimeter-wave applications. It serves the mobile device, networks infrastructure and defense and aerospace markets.

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