Qorvo (NASDAQ:QRVO) had its price objective hoisted by equities research analysts at Morgan Stanley from $150.00 to $155.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Morgan Stanley’s price target indicates a potential upside of 20.31% from the stock’s previous close.

Several other research analysts have also recently commented on QRVO. UBS Group increased their price target on Qorvo from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Mizuho increased their price target on Qorvo from $114.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Bank of America reissued a “buy” rating on shares of Qorvo in a research report on Thursday, May 21st. Needham & Company LLC raised their price objective on Qorvo from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, BidaskClub raised Qorvo from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $129.33.

Shares of Qorvo stock opened at $128.83 on Tuesday. Qorvo has a 1 year low of $67.54 and a 1 year high of $136.06. The business has a 50-day moving average of $127.66 and a two-hundred day moving average of $105.66. The company has a market capitalization of $14.72 billion, a P/E ratio of 38.80, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.08 and a quick ratio of 3.05.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.13 by $0.37. Qorvo had a return on equity of 16.10% and a net margin of 12.05%. The firm had revenue of $787.50 million during the quarter, compared to analysts’ expectations of $729.91 million. During the same period in the prior year, the firm posted $1.36 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Qorvo will post 6.12 EPS for the current fiscal year.

In other Qorvo news, Director Walter H. Wilkinson sold 2,347 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $133.80, for a total transaction of $314,028.60. Following the transaction, the director now owns 28,089 shares in the company, valued at approximately $3,758,308.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Steven E. Creviston sold 2,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $113.15, for a total value of $226,300.00. Following the transaction, the vice president now owns 65,018 shares in the company, valued at approximately $7,356,786.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,098 shares of company stock worth $3,534,548. Corporate insiders own 0.66% of the company’s stock.

A number of institutional investors have recently bought and sold shares of QRVO. Ameritas Investment Company LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at $31,000. CSat Investment Advisory L.P. boosted its holdings in shares of Qorvo by 32.5% in the 1st quarter. CSat Investment Advisory L.P. now owns 620 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 152 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Qorvo in the 2nd quarter valued at $52,000. Royal Fund Management LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at $69,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Qorvo by 212.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 935 shares of the semiconductor company’s stock valued at $75,000 after purchasing an additional 636 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PAs), low noise amplifiers (LNAs), switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

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Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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