Qorvo (NASDAQ:QRVO) Upgraded to Buy at StockNews.com

Qorvo (NASDAQ:QRVO) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other equities analysts have also commented on the stock. Craig Hallum raised their target price on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Raymond James increased their price target on Qorvo from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Needham & Company LLC decreased their price objective on Qorvo from $125.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Barclays dropped their target price on shares of Qorvo from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Piper Sandler cut their target price on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Qorvo presently has a consensus rating of “Hold” and an average price target of $110.83.

Qorvo Trading Up 0.3 %

NASDAQ QRVO traded up $0.28 on Friday, hitting $95.95. 2,424,505 shares of the stock were exchanged, compared to its average volume of 1,346,378. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.33 and a current ratio of 1.90. Qorvo has a 52-week low of $80.62 and a 52-week high of $121.65. The firm has a market capitalization of $9.26 billion, a P/E ratio of -131.44, a P/E/G ratio of 0.86 and a beta of 1.53. The stock has a fifty day moving average price of $113.49 and a two-hundred day moving average price of $105.57.

Qorvo (NASDAQ:QRVO) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.18. Qorvo had a positive return on equity of 13.25% and a negative net margin of 1.86%. The business had revenue of $941.00 million during the quarter, compared to analyst estimates of $927.24 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The company’s revenue for the quarter was up 48.7% compared to the same quarter last year. Research analysts forecast that Qorvo will post 6.69 EPS for the current fiscal year.

Insider Transactions at Qorvo

In other Qorvo news, VP Gina Harrison sold 354 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $40,356.00. Following the transaction, the vice president now owns 18,442 shares in the company, valued at approximately $2,102,388. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Gina Harrison sold 354 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $40,356.00. Following the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of Qorvo stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now directly owns 29,705 shares of the company’s stock, valued at approximately $3,386,370. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,381 shares of company stock worth $745,434. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Zhang Financial LLC raised its position in shares of Qorvo by 2.7% in the fourth quarter. Zhang Financial LLC now owns 3,852 shares of the semiconductor company’s stock worth $434,000 after acquiring an additional 102 shares during the period. Quadrature Capital Ltd raised its holdings in Qorvo by 0.4% in the 4th quarter. Quadrature Capital Ltd now owns 25,092 shares of the semiconductor company’s stock worth $2,825,000 after purchasing an additional 103 shares during the period. Wahed Invest LLC boosted its position in Qorvo by 7.5% during the third quarter. Wahed Invest LLC now owns 1,540 shares of the semiconductor company’s stock worth $147,000 after purchasing an additional 108 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Qorvo by 1.5% in the third quarter. Teacher Retirement System of Texas now owns 7,669 shares of the semiconductor company’s stock valued at $732,000 after buying an additional 116 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Qorvo by 12.9% during the 1st quarter. GAMMA Investing LLC now owns 1,040 shares of the semiconductor company’s stock worth $119,000 after buying an additional 119 shares during the period. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Qorvo Company Profile

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.