Qorvo (NASDAQ:QRVO) PT Lowered to $95.00 at Susquehanna

Qorvo (NASDAQ:QRVO) had its price target reduced by Susquehanna from $100.00 to $95.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the stock. Craig Hallum lifted their price target on shares of Qorvo from $110.00 to $125.00 and gave the company a buy rating in a report on Thursday, February 1st. StockNews.com cut Qorvo from a buy rating to a hold rating in a report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on Qorvo from $95.00 to $105.00 and gave the stock an underweight rating in a research report on Thursday, February 1st. Barclays raised their price target on Qorvo from $95.00 to $100.00 and gave the company an equal weight rating in a report on Tuesday, January 16th. Finally, Raymond James increased their target price on Qorvo from $115.00 to $120.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $110.83.

Qorvo Price Performance

QRVO stock traded up $0.28 during trading on Thursday, reaching $95.95. The company’s stock had a trading volume of 2,424,521 shares, compared to its average volume of 1,436,907. The company’s fifty day moving average is $113.15 and its 200-day moving average is $105.68. Qorvo has a 1 year low of $80.62 and a 1 year high of $121.65. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.44.

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

Insiders Place Their Bets

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

Institutional Trading of Qorvo

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

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.