QRVO has been the subject of several other reports. Benchmark raised their target price on shares of Qorvo from $90.00 to $100.00 and gave the company a buy rating in a research note on Friday, November 1st. Cowen reaffirmed an outperform rating and set a $95.00 price target (up from $90.00) on shares of Qorvo in a research report on Friday, November 1st. Susquehanna Bancshares raised their price objective on Qorvo from $70.00 to $85.00 and gave the stock a neutral rating in a research report on Friday, November 1st. BidaskClub raised Qorvo from a hold rating to a buy rating in a research report on Wednesday, November 6th. Finally, Craig Hallum restated a buy rating and set a $100.00 target price (up from $85.00) on shares of Qorvo in a research note on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $91.39.
Qorvo stock traded up $1.41 during midday trading on Monday, hitting $109.85. 44,227 shares of the company’s stock were exchanged, compared to its average volume of 1,308,045. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.37 and a current ratio of 3.45. The company has a market cap of $12.39 billion, a PE ratio of 20.95, a P/E/G ratio of 2.41 and a beta of 1.19. The firm has a 50-day moving average of $97.43 and a two-hundred day moving average of $77.25. Qorvo has a 12 month low of $54.74 and a 12 month high of $111.35.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.22. The firm had revenue of $806.70 million during the quarter, compared to analysts’ expectations of $754.67 million. Qorvo had a net margin of 8.19% and a return on equity of 15.10%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.75 EPS. As a group, equities analysts expect that Qorvo will post 4.85 earnings per share for the current year.
In other news, Director Susan Louise Spradley sold 500 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $101.99, for a total value of $50,995.00. Following the completion of the transaction, the director now owns 9,644 shares of the company’s stock, valued at approximately $983,591.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James L. Klein sold 1,914 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $76.69, for a total value of $146,784.66. Following the completion of the sale, the vice president now owns 51,667 shares in the company, valued at approximately $3,962,342.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,664 shares of company stock valued at $2,334,507. Company insiders own 0.71% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. grew its stake in shares of Qorvo by 46.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 87,061 shares of the semiconductor company’s stock worth $6,244,000 after purchasing an additional 27,692 shares during the period. Commonwealth Equity Services LLC raised its holdings in Qorvo by 2.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,832 shares of the semiconductor company’s stock worth $521,000 after purchasing an additional 158 shares during the period. Creative Planning raised its holdings in Qorvo by 17.8% in the 2nd quarter. Creative Planning now owns 5,692 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 862 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Qorvo by 4.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 477,140 shares of the semiconductor company’s stock worth $31,782,000 after purchasing an additional 18,700 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Qorvo by 15.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 53,219 shares of the semiconductor company’s stock worth $3,545,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.
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 (PAs), low noise amplifiers (LNAs), 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.
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