Qorvo, Inc. (NASDAQ:QRVO) Receives $94.00 Average Target Price from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given a consensus rating of “Hold” by the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $94.00.

Several equities analysts have weighed in on QRVO shares. Barclays upgraded shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $100.00 in a research report on Wednesday, April 22nd. Citigroup reduced their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Mizuho reaffirmed an “underperform” rating and issued a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Craig Hallum reiterated a “buy” rating and set a $120.00 price target on shares of Qorvo in a report on Wednesday, May 6th. Finally, Wolfe Research lowered Qorvo from an “outperform” rating to a “peer perform” rating in a research report on Friday, April 17th.

Qorvo Stock Performance

Shares of QRVO opened at $98.11 on Monday. Qorvo has a one year low of $74.92 and a one year high of $109.49. The company has a 50-day moving average of $92.37 and a two-hundred day moving average of $87.88. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.43 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.54 and a quick ratio of 2.68.

Qorvo (NASDAQ:QRVO) last released its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.53. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The business had revenue of $784.79 million for the quarter, compared to the consensus estimate of $743.28 million. During the same period last year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, equities research analysts expect that Qorvo will post 6.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $100.00, for a total value of $471,400.00. Following the transaction, the vice president owned 24,429 shares in the company, valued at $2,442,900. This represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Feld sold 1,900,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares of the company’s stock, valued at $567,886,431.20. This trade represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,966,127 shares of company stock valued at $198,911,103. 0.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its position in Qorvo by 215.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 338 shares of the semiconductor company’s stock worth $29,000 after buying an additional 231 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Qorvo by 952.8% during the 4th quarter. Sound Income Strategies LLC now owns 379 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 343 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Qorvo during the 2nd quarter valued at $32,000. Advisory Services Network LLC acquired a new position in shares of Qorvo in the third quarter worth $36,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Qorvo in the fourth quarter worth $39,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.