Qorvo (NASDAQ:QRVO) PT Lowered to $105.00 at The Goldman Sachs Group

Qorvo (NASDAQ:QRVO) had its price target lowered by The Goldman Sachs Group from $117.00 to $105.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

A number of other brokerages have also recently commented on QRVO. Craig Hallum raised their price objective on Qorvo from $110.00 to $125.00 and gave the company a buy rating in a research note on Thursday, February 1st. Benchmark dropped their target price on Qorvo from $136.00 to $128.00 and set a buy rating on the stock in a report on Thursday. JPMorgan Chase & Co. dropped their target price on Qorvo from $105.00 to $100.00 and set an underweight rating on the stock in a report on Thursday. Raymond James raised their target price on Qorvo from $115.00 to $120.00 and gave the company an outperform rating in a report on Thursday, February 1st. Finally, Piper Sandler dropped their target price on Qorvo from $120.00 to $105.00 and set a neutral rating on the stock in a report on Thursday, February 1st. Two 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’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $110.83.

Qorvo Stock Performance

Shares of QRVO stock traded up $0.83 on Friday, hitting $96.78. The company had a trading volume of 58,986 shares, compared to its average volume of 1,331,592. The stock’s 50-day moving average is $113.15 and its two-hundred day moving average is $105.78. The company has a current ratio of 1.99, a quick ratio of 1.41 and a debt-to-equity ratio of 0.44. Qorvo has a twelve month low of $80.62 and a twelve month high of $121.65.

Qorvo (NASDAQ:QRVO) last released its earnings results on Wednesday, May 1st. The semiconductor company reported $1.39 EPS 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 analysts’ expectations of $927.24 million. During the same quarter last year, the firm posted $0.11 earnings per share. The firm’s revenue was up 48.7% on a year-over-year basis. On average, analysts forecast that Qorvo will post 6.69 earnings per share for the current year.

Insider Activity at Qorvo

In related news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Paul J. Fego sold 3,027 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 29,705 shares of the company’s stock, valued at $3,386,370. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gina Harrison sold 354 shares of the business’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 completion of the transaction, the vice president now directly owns 18,442 shares of the company’s stock, valued at approximately $2,102,388. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,381 shares of company stock valued at $745,434. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Qorvo

Institutional investors have recently bought and sold shares of the company. Xponance Inc. boosted its holdings in shares of Qorvo by 1.7% during the 3rd quarter. Xponance Inc. now owns 14,159 shares of the semiconductor company’s stock valued at $1,352,000 after acquiring an additional 240 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Qorvo by 1.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,435 shares of the semiconductor company’s stock worth $2,142,000 after acquiring an additional 299 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Qorvo by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 3,410 shares of the semiconductor company’s stock valued at $326,000 after buying an additional 317 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Qorvo by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 79,216 shares of the semiconductor company’s stock valued at $7,563,000 after buying an additional 7,114 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new stake in shares of Qorvo during the third quarter valued at approximately $133,000. 88.57% of the stock is owned by hedge funds and other institutional investors.

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.