Qorvo (NASDAQ:QRVO) Price Target Cut to $95.00

Qorvo (NASDAQ:QRVO) had its target price decreased by analysts at Susquehanna from $100.00 to $95.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Susquehanna’s price target points to a potential downside of 0.99% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Mizuho decreased their target price on shares of Qorvo from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday. Rosenblatt Securities upped their price target on Qorvo from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. The Goldman Sachs Group increased their price objective on Qorvo from $104.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Piper Sandler decreased their target price on Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, February 1st. Finally, Raymond James upped their target price on shares of Qorvo from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Qorvo currently has a consensus rating of “Hold” and a consensus price target of $110.83.

Qorvo Stock Up 0.3 %

QRVO stock traded up $0.28 on Thursday, reaching $95.95. 2,424,521 shares of the company traded hands, compared to its average volume of 1,436,907. The firm has a fifty day simple moving average of $113.15 and a 200-day simple moving average of $105.59. The company has a market cap of $9.26 billion, a P/E ratio of -131.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53. Qorvo has a one year low of $80.62 and a one year high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.18. The firm had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a positive return on equity of 13.43% and a negative net margin of 1.86%. The company’s revenue was up 48.7% on a year-over-year basis. During the same period last year, the company earned $0.11 earnings per share. Research analysts anticipate that Qorvo will post 6.69 earnings per share for the current year.

Insider Activity

In related news, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Steven E. Creviston sold 3,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total value of $360,000.00. Following the completion of the sale, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at $9,306,240. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Gina Harrison sold 354 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the sale, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The disclosure for this sale can be found here. Insiders sold a total of 6,381 shares of company stock valued at $745,434 in the last 90 days. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Institutional investors have recently bought and sold shares of the business. Park Place Capital Corp boosted its stake in shares of Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 207 shares during the period. Riverview Trust Co purchased a new position in Qorvo in the 1st quarter worth approximately $40,000. Fidelis Capital Partners LLC purchased a new position in Qorvo in the 1st quarter worth approximately $58,000. Huntington National Bank boosted its stake in Qorvo by 8,090.0% in the 3rd quarter. Huntington National Bank now owns 819 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 809 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in Qorvo during the 4th quarter valued at approximately $104,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

About Qorvo

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.