Qorvo (NASDAQ:QRVO) Upgraded at StockNews.com

StockNews.com upgraded shares of Qorvo (NASDAQ:QRVO) from a hold rating to a buy rating in a report issued on Friday morning.

QRVO has been the subject of a number of other research reports. Benchmark lowered their target price on shares of Qorvo from $136.00 to $128.00 and set a buy rating for the company in a research note on Thursday. The Goldman Sachs Group lowered their target price on shares of Qorvo from $117.00 to $105.00 and set a neutral rating for the company in a research note on Friday. Needham & Company LLC lowered their target price on shares of Qorvo from $125.00 to $110.00 and set a buy rating for the company in a research note on Thursday. Susquehanna reduced their price target on shares of Qorvo from $100.00 to $95.00 and set a neutral rating for the company in a research report on Thursday. Finally, Barclays reduced their price target on shares of Qorvo from $110.00 to $100.00 and set an equal weight rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Qorvo currently has a consensus rating of Hold and a consensus price target of $110.83.

Qorvo Stock Performance

NASDAQ:QRVO opened at $95.95 on Friday. The company has a fifty day simple moving average of $113.15 and a two-hundred day simple moving average of $105.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.41 and a current ratio of 1.99. Qorvo has a 52 week low of $80.62 and a 52 week high of $121.65.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.21 by $0.18. The business had revenue of $941.00 million during the quarter, compared to the consensus estimate of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. The company’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. Sell-side analysts predict that Qorvo will post 6.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total transaction of $345,078.00. Following the completion of the transaction, the senior vice president now directly owns 29,705 shares in the company, valued at approximately $3,386,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gina Harrison sold 354 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $40,356.00. Following the sale, the vice president now directly owns 18,442 shares in the company, valued at approximately $2,102,388. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,381 shares of company stock worth $745,434. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

Several hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Qorvo by 646.2% during the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after purchasing an additional 3,347,972 shares during the last quarter. FIL Ltd boosted its holdings in shares of Qorvo by 4.5% during the fourth quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock worth $312,901,000 after purchasing an additional 120,213 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Qorvo by 18.9% during the third quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock worth $189,964,000 after purchasing an additional 316,328 shares during the last quarter. Boston Partners boosted its holdings in shares of Qorvo by 0.5% during the fourth quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock worth $161,726,000 after purchasing an additional 6,558 shares during the last quarter. Finally, UBS Group AG boosted its holdings in shares of Qorvo by 491.9% during the third quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock worth $120,987,000 after purchasing an additional 1,053,157 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

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.