Qorvo (NASDAQ:QRVO) Research Coverage Started at Loop Capital

Loop Capital started coverage on shares of Qorvo (NASDAQ:QRVO) in a research note published on Monday, MarketBeat.com reports. The brokerage issued a hold rating and a $73.00 price target on the semiconductor company’s stock.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Qorvo in a report on Monday, October 28th. They set a “buy” rating and a $135.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Qorvo from $105.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Rosenblatt Securities raised their price objective on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Susquehanna dropped their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.88.

Qorvo Stock Performance

Shares of QRVO stock opened at $65.60 on Monday. The company’s 50-day moving average is $95.59 and its 200 day moving average is $104.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 1.90. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of -44.93, a price-to-earnings-growth ratio of 5.39 and a beta of 1.49. Qorvo has a one year low of $65.35 and a one year high of $130.99.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.99 EPS. Sell-side analysts expect that Qorvo will post 3.37 EPS for the current fiscal year.

Insider Activity

In other news, VP Gina Harrison sold 689 shares of Qorvo stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction of $74,184.63. Following the sale, the vice president now owns 21,601 shares in the company, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Several institutional investors and hedge funds have recently modified their holdings of QRVO. Pacer Advisors Inc. raised its position in shares of Qorvo by 17,255.9% during the second quarter. Pacer Advisors Inc. now owns 1,427,006 shares of the semiconductor company’s stock valued at $165,590,000 after buying an additional 1,418,784 shares during the last quarter. Vulcan Value Partners LLC increased its position in Qorvo by 35.0% in the second quarter. Vulcan Value Partners LLC now owns 2,123,936 shares of the semiconductor company’s stock worth $246,665,000 after purchasing an additional 550,111 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock worth $86,290,000 after purchasing an additional 487,621 shares during the last quarter. Caxton Associates LP bought a new stake in Qorvo in the second quarter worth $34,812,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Qorvo by 177.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 426,678 shares of the semiconductor company’s stock worth $48,995,000 after purchasing an additional 272,872 shares during the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

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.