Positive News Coverage Somewhat Unlikely to Affect Qorvo (QRVO) Stock Price

Headlines about Qorvo (NASDAQ:QRVO) have trended positive recently, according to Accern. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Qorvo earned a news sentiment score of 0.29 on Accern’s scale. Accern also assigned news articles about the semiconductor company an impact score of 45.9350031606957 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the news articles that may have effected Accern’s scoring:

A number of research analysts have recently commented on QRVO shares. BidaskClub downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Saturday, February 17th. Zacks Investment Research downgraded Qorvo from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Piper Jaffray started coverage on Qorvo in a research report on Monday, February 26th. They set an “overweight” rating and a $90.00 target price for the company. Nomura downgraded Qorvo from a “buy” rating to a “neutral” rating and lowered their target price for the company from $85.00 to $75.00 in a research report on Tuesday, March 20th. Finally, Barclays increased their target price on Qorvo from $75.00 to $87.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Qorvo presently has a consensus rating of “Hold” and a consensus price target of $81.16.

Shares of NASDAQ:QRVO opened at $70.45 on Friday. The company has a quick ratio of 3.62, a current ratio of 4.72 and a debt-to-equity ratio of 0.23. Qorvo has a 52-week low of $62.68 and a 52-week high of $86.84. The firm has a market capitalization of $8,669.87, a P/E ratio of 352.25, a P/E/G ratio of 1.19 and a beta of 0.81.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.09. Qorvo had a return on equity of 11.72% and a net margin of 0.95%. The business had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. During the same quarter last year, the firm posted $1.35 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. sell-side analysts anticipate that Qorvo will post 4.49 earnings per share for the current fiscal year.

In other Qorvo news, VP Steven E. Creviston sold 6,000 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $79.48, for a total value of $476,880.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gina Harrison sold 1,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $82.83, for a total value of $82,830.00. Following the completion of the sale, the vice president now owns 14,954 shares in the company, valued at approximately $1,238,639.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,500 shares of company stock worth $1,671,675. Insiders own 0.91% of the company’s stock.

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About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

Insider Buying and Selling by Quarter for Qorvo (NASDAQ:QRVO)

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