Qorvo (NASDAQ:QRVO) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other analysts also recently issued reports on QRVO. Instinet raised shares of Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 1st. Oppenheimer reaffirmed a “hold” rating on shares of Qorvo in a research note on Thursday, February 1st. Mizuho reaffirmed a “neutral” rating and set a $74.00 price target (up previously from $70.00) on shares of Qorvo in a research note on Thursday, February 1st. BMO Capital Markets lifted their price target on shares of Qorvo from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Finally, Needham & Company LLC lifted their price target on shares of Qorvo from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $80.42.

Shares of Qorvo (NASDAQ QRVO) opened at $77.85 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62. The stock has a market cap of $9,850.00, a PE ratio of 370.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. Qorvo has a 12 month low of $62.68 and a 12 month high of $85.24.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.09. The business had revenue of $845.70 million during the quarter, compared to the consensus estimate of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. equities analysts forecast that Qorvo will post 4.49 EPS for the current year.

In related news, Director Daniel A. Dileo sold 2,500 shares of Qorvo stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at $369,760. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Steven E. Creviston sold 6,000 shares of Qorvo stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $76.97, for a total transaction of $461,820.00. Following the transaction, the vice president now directly owns 95,725 shares in the company, valued at $7,367,953.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,496 shares of company stock worth $3,766,549. 0.91% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its holdings in Qorvo by 26.1% during the second quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock valued at $2,725,000 after buying an additional 8,911 shares during the period. F&V Capital Management LLC increased its holdings in Qorvo by 34.4% during the fourth quarter. F&V Capital Management LLC now owns 68,200 shares of the semiconductor company’s stock valued at $4,542,000 after buying an additional 17,460 shares during the period. Janus Henderson Group PLC increased its holdings in Qorvo by 424.0% during the second quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock valued at $4,932,000 after buying an additional 63,019 shares during the period. Nomura Holdings Inc. purchased a new position in Qorvo during the second quarter valued at approximately $639,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Qorvo during the second quarter valued at approximately $933,000. 96.48% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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