Qorvo Inc. (NASDAQ:QRVO) has been given a consensus rating of “Hold” by the twenty-seven research firms that are currently covering the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $62.34.

Several research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $63.00 price objective (up from $53.00) on shares of Qorvo in a research report on Wednesday, August 3rd. Mizuho lowered Qorvo from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Friday, July 1st. MKM Partners lifted their price objective on Qorvo from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Drexel Hamilton lifted their price objective on Qorvo from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, DA Davidson decreased their target price on Qorvo from $70.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd.

In related news, VP James L. Klein sold 1,384 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $76,120.00. Following the transaction, the vice president now owns 40,528 shares in the company, valued at $2,229,040. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Walden C. Rhines acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average price of $54.02 per share, for a total transaction of $270,100.00. Following the purchase, the director now owns 26,708 shares of the company’s stock, valued at approximately $1,442,766.16. The disclosure for this purchase can be found here. 1.14% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Qorvo by 138.5% in the second quarter. Alliancebernstein L.P. now owns 1,960,083 shares of the company’s stock valued at $108,314,000 after buying an additional 1,138,109 shares during the last quarter. Systematic Financial Management LP increased its position in Qorvo by 377.5% in the second quarter. Systematic Financial Management LP now owns 1,129,787 shares of the company’s stock valued at $62,432,000 after buying an additional 893,164 shares during the last quarter. Wellington Management Group LLP increased its position in Qorvo by 87.1% in the first quarter. Wellington Management Group LLP now owns 1,649,107 shares of the company’s stock valued at $83,131,000 after buying an additional 767,554 shares during the last quarter. JPMorgan Chase & Co. increased its position in Qorvo by 50.9% in the first quarter. JPMorgan Chase & Co. now owns 1,495,927 shares of the company’s stock valued at $75,409,000 after buying an additional 504,602 shares during the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in Qorvo during the first quarter valued at approximately $23,945,000. Institutional investors and hedge funds own 87.10% of the company’s stock.

Qorvo (NASDAQ:QRVO) opened at 56.64 on Thursday. The company’s 50-day moving average price is $55.73 and its 200 day moving average price is $53.25. The firm’s market capitalization is $7.24 billion. Qorvo has a 12 month low of $33.30 and a 12 month high of $64.80.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. Qorvo had a positive return on equity of 9.32% and a negative net margin of 1.39%. The firm earned $697.60 million during the quarter, compared to analyst estimates of $650.62 million. During the same period last year, the company posted $1.09 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Qorvo will post $5.09 earnings per share for the current year.

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).

5 Day Chart for NASDAQ:QRVO

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