Qorvo Inc (NASDAQ:QRVO) Receives Consensus Recommendation of “Buy” from Brokerages
Qorvo Inc (NASDAQ:QRVO) has been assigned a consensus rating of “Buy” from the twenty-six analysts that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $121.43.
A number of equities research analysts have weighed in on the company. Loop Capital assumed coverage on Qorvo in a research report on Friday, May 8th. They set a “buy” rating and a $120.00 target price for the company. Bank of America reaffirmed a “buy” rating on shares of Qorvo in a research report on Thursday, May 21st. Cfra decreased their target price on Qorvo from $120.00 to $109.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Wells Fargo & Co lifted their target price on Qorvo from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC lifted their target price on Qorvo from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st.
In other Qorvo news, VP Steven E. Creviston sold 2,000 shares of Qorvo stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $113.15, for a total transaction of $226,300.00. Following the completion of the sale, the vice president now owns 65,018 shares of the company’s stock, valued at approximately $7,356,786.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gina Harrison sold 1,328 shares of Qorvo stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $115.53, for a total value of $153,423.84. In the last ninety days, insiders have sold 32,877 shares of company stock valued at $3,409,446. 0.66% of the stock is currently owned by insiders.
Shares of QRVO stock opened at $128.15 on Friday. Qorvo has a 52-week low of $67.54 and a 52-week high of $130.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.18 and a current ratio of 3.14. The firm has a market capitalization of $14.66 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.37 and a beta of 1.41. The stock has a 50 day moving average price of $112.02 and a 200 day moving average price of $101.04.
Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.37. Qorvo had a return on equity of 16.15% and a net margin of 12.05%. The firm had revenue of $787.50 million during the quarter, compared to analyst estimates of $729.91 million. During the same period last year, the company earned $1.36 EPS. Qorvo’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Qorvo will post 4.73 EPS for the current year.
Qorvo Company Profile
Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.
See Also: What is FinTech?
Receive News & Ratings for Qorvo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo and related companies with MarketBeat.com's FREE daily email newsletter.