Qorvo (NASDAQ:QRVO) Price Target Cut to $100.00

Qorvo (NASDAQ:QRVO) had its target price decreased by Barclays from $110.00 to $100.00 in a report published on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the stock. Rosenblatt Securities raised their target price on shares of Qorvo from $95.00 to $105.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. Mizuho cut their price target on shares of Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Qorvo from $105.00 to $100.00 and set an underweight rating for the company in a report on Thursday. Needham & Company LLC dropped their target price on shares of Qorvo from $125.00 to $110.00 and set a buy rating for the company in a report on Thursday. Finally, The Goldman Sachs Group lifted their target price on shares of Qorvo from $104.00 to $117.00 and gave the company a neutral rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $110.83.

Qorvo Stock Performance

Shares of Qorvo stock traded up $0.28 during mid-day trading on Thursday, reaching $95.95. 2,424,521 shares of the stock traded hands, compared to its average volume of 1,436,907. The business has a 50-day moving average of $113.15 and a 200 day moving average of $105.68. Qorvo has a fifty-two week low of $80.62 and a fifty-two week high of $121.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.99 and a quick ratio of 1.33.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 EPS for the quarter, beating 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 firm 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 earned $0.11 EPS. The firm’s revenue was up 48.7% compared to the same quarter last year. As a group, analysts predict that Qorvo will post 6.69 EPS for the current year.

Insider Buying and Selling

In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gina Harrison sold 354 shares of the business’s stock in a transaction dated 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 directly owns 18,442 shares of the company’s stock, valued at $2,102,388. The disclosure for this sale can be found here. Insiders have sold 6,381 shares of company stock valued at $745,434 in the last quarter. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

Several large investors have recently added to or reduced their stakes in QRVO. Barclays PLC lifted its stake in shares of Qorvo by 646.2% in the third quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after buying an additional 3,347,972 shares during the last quarter. FIL Ltd raised its stake in Qorvo by 4.5% during the 4th quarter. FIL Ltd now owns 2,778,629 shares of the semiconductor company’s stock valued at $312,901,000 after purchasing an additional 120,213 shares during the last quarter. Invesco Ltd. raised its stake in Qorvo by 18.9% during the 3rd quarter. Invesco Ltd. now owns 1,989,776 shares of the semiconductor company’s stock valued at $189,964,000 after purchasing an additional 316,328 shares during the last quarter. Boston Partners raised its stake in Qorvo by 0.5% during the 4th quarter. Boston Partners now owns 1,436,328 shares of the semiconductor company’s stock valued at $161,726,000 after purchasing an additional 6,558 shares during the last quarter. Finally, UBS Group AG raised its stake in Qorvo by 491.9% during the 3rd quarter. UBS Group AG now owns 1,267,273 shares of the semiconductor company’s stock valued at $120,987,000 after purchasing an additional 1,053,157 shares during the last quarter. 88.57% of the stock is owned by institutional investors.

About Qorvo

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.