Qorvo (NASDAQ:QRVO) Upgraded at StockNews.com

StockNews.com upgraded shares of Qorvo (NASDAQ:QRVO) from a hold rating to a buy rating in a report released on Friday morning.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Qorvo from $117.00 to $105.00 and set a neutral rating on the stock in a research report on Friday. Benchmark cut their price target on shares of Qorvo from $136.00 to $128.00 and set a buy rating on the stock in a research report on Thursday. Craig Hallum boosted their price target on shares of Qorvo from $110.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Mizuho cut their price target on shares of Qorvo from $115.00 to $105.00 and set a neutral rating on the stock in a research report on Thursday. Finally, Needham & Company LLC cut their price target on shares of Qorvo from $125.00 to $110.00 and set a buy rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $110.83.

Qorvo Stock Up 0.3 %

QRVO opened at $95.95 on Friday. Qorvo has a 12 month low of $80.62 and a 12 month high of $121.65. The firm’s fifty day simple moving average is $113.15 and its 200 day simple moving average is $105.78. The company has a quick ratio of 1.41, a current ratio of 1.99 and a debt-to-equity ratio of 0.44.

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 negative net margin of 1.86% and a positive return on equity of 13.43%. The business had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $927.24 million. During the same period in the previous year, the firm posted $0.11 EPS. The firm’s revenue was up 48.7% compared to the same quarter last year. On average, research analysts expect that Qorvo will post 6.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Gina Harrison sold 354 shares of the 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 transaction, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Gina Harrison sold 354 shares of the 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 transaction, the vice president now owns 18,442 shares in the company, valued at $2,102,388. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Paul J. Fego sold 3,027 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $114.00, for a total value of $345,078.00. Following the transaction, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 over the last three months. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Qorvo

A number of large investors have recently added to or reduced their stakes in the stock. RIA Advisory Group LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at $295,000. Daiwa Securities Group Inc. boosted its holdings in shares of Qorvo by 44.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock valued at $1,521,000 after purchasing an additional 4,072 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Qorvo by 1.2% in the 1st quarter. Nordea Investment Management AB now owns 373,914 shares of the semiconductor company’s stock valued at $42,974,000 after purchasing an additional 4,257 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Qorvo in the 1st quarter valued at $58,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Qorvo by 13.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,708 shares of the semiconductor company’s stock valued at $311,000 after purchasing an additional 315 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

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.