Drexel Hamilton Reiterates “Buy” Rating for Qorvo, Inc. (NASDAQ:QRVO)

Qorvo, Inc. (NASDAQ:QRVO)‘s stock had its “buy” rating reaffirmed by Drexel Hamilton in a research note issued on Thursday, November 2nd. They presently have a $95.00 target price on the semiconductor company’s stock. Drexel Hamilton’s price target suggests a potential upside of 17.88% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Northland Securities lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Craig Hallum lowered shares of Qorvo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $78.00 to $71.00 in a research report on Thursday, November 2nd. KeyCorp reiterated a “hold” rating on shares of Qorvo in a research report on Wednesday, October 11th. Mizuho reissued a “hold” rating and issued a $70.00 target price on shares of Qorvo in a report on Monday, October 9th. Finally, Cowen and Company reissued a “hold” rating and issued a $85.00 target price on shares of Qorvo in a report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Qorvo currently has an average rating of “Hold” and a consensus price target of $76.74.

Shares of Qorvo (NASDAQ:QRVO) opened at $80.59 on Thursday. The stock has a market cap of $10,250.00 and a PE ratio of 19.33. Qorvo has a 1 year low of $49.53 and a 1 year high of $81.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.71 and a current ratio of 3.80.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $821.60 million for the quarter, compared to analyst estimates of $810.47 million. Qorvo had a negative net margin of 0.59% and a positive return on equity of 10.77%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. research analysts expect that Qorvo will post 4.74 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by BBNS and is the sole property of of BBNS. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://baseballnewssource.com/markets/qorvos-qrvo-buy-rating-reiterated-at-drexel-hamilton/1752743.html.

In related news, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $73.37, for a total transaction of $440,220.00. Following the completion of the transaction, the vice president now directly owns 106,725 shares in the company, valued at approximately $7,830,413.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Gina Harrison sold 5,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $73.41, for a total value of $367,050.00. Following the transaction, the vice president now owns 17,230 shares of the company’s stock, valued at $1,264,854.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,500 shares of company stock worth $3,513,885. Corporate insiders own 0.91% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in shares of Qorvo in the third quarter worth $130,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Qorvo by 79.9% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,252 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 1,000 shares in the last quarter. Federated Investors Inc. PA grew its stake in shares of Qorvo by 4.0% in the second quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 90 shares in the last quarter. NEXT Financial Group Inc grew its stake in shares of Qorvo by 2.1% in the second quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 49 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in shares of Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock worth $164,000 after purchasing an additional 126 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

Receive News & Ratings for Qorvo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qorvo Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.