Qorvo, Inc. (QRVO) Receives Consensus Rating of “Hold” from Analysts
Shares of Qorvo, Inc. (NASDAQ:QRVO) have received an average rating of “Hold” from the twenty-six research firms that are currently covering the company. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $61.53.
Several brokerages have recently weighed in on QRVO. J P Morgan Chase & Co reissued a “buy” rating and set a $70.00 price objective on shares of Qorvo in a report on Friday, November 4th. Mizuho lifted their price objective on Qorvo from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective (down previously from $63.00) on shares of Qorvo in a report on Monday, November 7th. BMO Capital Markets lowered Qorvo from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $72.00 to $58.00 in a report on Thursday, February 2nd. Finally, Vetr lowered Qorvo from a “hold” rating to a “sell” rating and set a $64.00 price objective on the stock. in a report on Wednesday, February 8th.
In other Qorvo news, Director Daniel A. Dileo sold 1,125 shares of Qorvo stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $66.64, for a total value of $74,970.00. Following the completion of the transaction, the director now owns 23,145 shares in the company, valued at approximately $1,542,382.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.14% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Vulcan Value Partners LLC increased its position in shares of Qorvo by 20.9% in the fourth quarter. Vulcan Value Partners LLC now owns 5,803,082 shares of the company’s stock valued at $305,996,000 after buying an additional 1,001,936 shares during the last quarter. State Street Corp increased its position in shares of Qorvo by 1.9% in the fourth quarter. State Street Corp now owns 5,428,718 shares of the company’s stock valued at $286,261,000 after buying an additional 99,427 shares during the last quarter. Boston Partners increased its position in shares of Qorvo by 91.1% in the third quarter. Boston Partners now owns 4,891,156 shares of the company’s stock valued at $272,633,000 after buying an additional 2,331,945 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Qorvo by 12.3% in the second quarter. Frontier Capital Management Co. LLC now owns 2,946,070 shares of the company’s stock valued at $162,800,000 after buying an additional 323,280 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Qorvo by 0.9% in the third quarter. BlackRock Fund Advisors now owns 2,423,555 shares of the company’s stock valued at $135,089,000 after buying an additional 21,143 shares during the last quarter. Hedge funds and other institutional investors own 93.63% of the company’s stock.
Shares of Qorvo (NASDAQ:QRVO) traded down 0.48% on Friday, hitting $66.83. The stock had a trading volume of 1,160,150 shares. The firm has a 50 day moving average price of $60.90 and a 200-day moving average price of $56.47. The company’s market cap is $8.45 billion. Qorvo has a 52 week low of $40.11 and a 52 week high of $67.68.
Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.09. Qorvo had a positive return on equity of 10.77% and a negative net margin of 3.22%. The company had revenue of $825.40 million for the quarter, compared to analyst estimates of $821.29 million. During the same quarter last year, the firm earned $1.03 EPS. Qorvo’s revenue for the quarter was up 33.1% compared to the same quarter last year. Analysts anticipate that Qorvo will post $4.52 EPS for the current year.
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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).
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