Qorvo, Inc. (NASDAQ:QRVO)‘s stock had its “hold” rating reaffirmed by investment analysts at KeyCorp in a note issued to investors on Wednesday.

A number of other equities research analysts also recently weighed in on the stock. Mizuho reissued a “hold” rating and set a $70.00 price target on shares of Qorvo in a research note on Monday. Cowen and Company reissued a “hold” rating and set a $85.00 price target on shares of Qorvo in a research note on Sunday, September 17th. Needham & Company LLC reissued a “buy” rating and set a $86.00 price target on shares of Qorvo in a research note on Sunday, September 17th. Craig Hallum reissued a “buy” rating on shares of Qorvo in a research note on Wednesday, September 13th. Finally, Instinet began coverage on shares of Qorvo in a research note on Wednesday, September 6th. They set a “neutral” rating and a $75.00 price target for the company. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $73.45.

Shares of Qorvo (NASDAQ:QRVO) opened at 72.36 on Wednesday. Qorvo has a one year low of $48.28 and a one year high of $79.34. The company’s market capitalization is $9.21 billion. The company’s 50-day moving average is $71.97 and its 200-day moving average is $70.64.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. The business had revenue of $640.80 million during the quarter, compared to the consensus estimate of $632.18 million. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. Qorvo’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. Equities analysts predict that Qorvo will post $5.53 earnings per share for the current year.

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In related news, VP James L. Klein sold 2,600 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $70.84, for a total transaction of $184,184.00. Following the completion of the transaction, the vice president now owns 42,993 shares in the company, valued at $3,045,624.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James L. Klein sold 1,500 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $67.67, for a total transaction of $101,505.00. Following the transaction, the vice president now owns 41,893 shares of the company’s stock, valued at approximately $2,834,899.31. The disclosure for this sale can be found here. Insiders sold 62,080 shares of company stock valued at $4,395,363 in the last quarter. Corporate insiders own 0.91% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Investors Inc. PA boosted its holdings in Qorvo by 4.0% during the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 90 shares during the last quarter. NEXT Financial Group Inc boosted its holdings in Qorvo by 2.1% during the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 49 shares during the last quarter. Advisor Group Inc. boosted its holdings in Qorvo by 5.1% during the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 126 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Qorvo by 400.9% during the second quarter. Global X Management Co. LLC now owns 2,795 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 2,237 shares during the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in Qorvo during the second quarter worth $188,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

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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