Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Recommendation of “Hold” by Brokerages

Qorvo, Inc. (NASDAQ:QRVO) has received an average rating of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $108.33.

A number of brokerages recently commented on QRVO. Rosenblatt Securities restated a “neutral” rating and set a $95.00 target price on shares of Qorvo in a report on Thursday, August 3rd. Wells Fargo & Company upped their price objective on shares of Qorvo from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Susquehanna decreased their price target on shares of Qorvo from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Summit Insights downgraded shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Citigroup lowered Qorvo from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $116.00 to $78.00 in a research report on Tuesday, October 10th.

Qorvo Trading Up 1.1 %

QRVO opened at $95.14 on Tuesday. The business has a 50 day simple moving average of $92.14 and a two-hundred day simple moving average of $98.02. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of -95.14, a PEG ratio of 2.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.37 and a quick ratio of 2.12. Qorvo has a one year low of $80.62 and a one year high of $114.59.

Insiders Place Their Bets

In related news, Director Roderick Nelson sold 2,067 shares of Qorvo stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $106.60, for a total value of $220,342.20. Following the completion of the sale, the director now directly owns 7,727 shares in the company, valued at approximately $823,698.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Qorvo by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after buying an additional 58,395 shares during the last quarter. BlackRock Inc. grew its position in Qorvo by 1.3% during the second quarter. BlackRock Inc. now owns 8,589,281 shares of the semiconductor company’s stock valued at $876,364,000 after buying an additional 113,870 shares during the period. Baupost Group LLC MA grew its position in Qorvo by 11.8% during the first quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after buying an additional 699,968 shares during the period. State Street Corp increased its holdings in Qorvo by 0.3% during the first quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock valued at $595,916,000 after buying an additional 16,097 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Qorvo by 91,166.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,613,532 shares of the semiconductor company’s stock worth $470,719,000 after acquiring an additional 4,608,477 shares during the period. Institutional investors own 85.60% 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.