Qorvo, Inc. (NASDAQ:QRVO) Receives Average Rating of “Hold” from Analysts

Qorvo, Inc. (NASDAQ:QRVO) has been given an average rating of “Hold” by the twenty research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $97.0667.

Several equities analysts recently weighed in on the company. Mizuho reiterated an “underperform” rating and set a $66.00 target price (down from $70.00) on shares of Qorvo in a research report on Monday, April 20th. Barclays upgraded Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $95.00 to $100.00 in a report on Wednesday, April 22nd. Wolfe Research downgraded shares of Qorvo from an “outperform” rating to a “peer perform” rating in a research note on Friday, April 17th. UBS Group increased their price objective on shares of Qorvo from $87.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th.

Qorvo Stock Up 0.6%

QRVO stock opened at $89.48 on Thursday. The company has a 50 day moving average price of $94.85 and a two-hundred day moving average price of $86.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The stock has a market capitalization of $7.89 billion, a P/E ratio of 24.72, a PEG ratio of 1.40 and a beta of 1.44. Qorvo has a one year low of $74.92 and a one year high of $109.49.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.48. The business had revenue of $808.28 million for the quarter, compared to analysts’ expectations of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, sell-side analysts expect that Qorvo will post 5.83 EPS for the current year.

Insider Activity at Qorvo

In other news, SVP Paul J. Fego sold 2,500 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president directly owned 71,038 shares in the company, valued at $7,103,800. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert A. Bruggeworth sold 57,957 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $100.40, for a total value of $5,818,882.80. Following the completion of the transaction, the chief executive officer directly owned 319,880 shares in the company, valued at $32,115,952. This trade represents a 15.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,966,127 shares of company stock worth $198,911,103. Company insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Qorvo

A number of large investors have recently modified their holdings of the company. Fred Alger Management LLC raised its holdings in Qorvo by 5.3% in the 3rd quarter. Fred Alger Management LLC now owns 3,179 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 160 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of Qorvo by 5.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 3,001 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 161 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock valued at $306,000 after purchasing an additional 167 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Qorvo by 60.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 480 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 180 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Qorvo by 14.6% in the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock valued at $125,000 after purchasing an additional 189 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

About Qorvo

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.