Qorvo, Inc. (NASDAQ:QRVO) Stock Has Consensus Price Target of $94.00 According to Analysts

Qorvo, Inc. (NASDAQ:QRVO) has earned a consensus recommendation of “Hold” from the eighteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $94.00.

A number of analysts have commented on QRVO shares. TD Cowen reiterated a “hold” rating on shares of Qorvo in a report on Wednesday, July 29th. Weiss Ratings restated a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Wall Street Zen upgraded Qorvo from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. UBS Group increased their price target on Qorvo from $91.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Citigroup lowered their price objective on Qorvo from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th.

Qorvo Trading Down 2.0%

Shares of QRVO opened at $112.21 on Tuesday. Qorvo has a 52-week low of $74.92 and a 52-week high of $121.09. The stock has a market cap of $9.90 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The firm’s fifty day moving average is $102.42 and its two-hundred day moving average is $93.95. The company has a quick ratio of 2.68, a current ratio of 3.54 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.53. The business had revenue of $784.79 million during the quarter, compared to analysts’ expectations of $743.28 million. Qorvo had a net margin of 10.95% and a return on equity of 17.23%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. Research analysts forecast that Qorvo will post 6.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, SVP Steven Creviston sold 4,810 shares of Qorvo stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $100.87, for a total transaction of $485,184.70. Following the transaction, the senior vice president owned 119,451 shares in the company, valued at $12,049,022.37. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Grant Brown sold 5,179 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.50, for a total transaction of $504,952.50. Following the transaction, the chief financial officer directly owned 49,268 shares in the company, valued at approximately $4,803,630. The trade was a 9.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 62,309 shares of company stock worth $6,304,642. Corporate insiders own 0.49% of the company’s stock.

Institutional Trading of Qorvo

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Qorvo in the second quarter valued at $32,000. Elevation Wealth Partners LLC grew its holdings in shares of Qorvo by 301.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 413 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 310 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Qorvo during the 2nd quarter worth $43,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Qorvo during the 2nd quarter worth about $52,000. Finally, Root Financial Partners LLC increased its position in shares of Qorvo by 160.1% during the 1st quarter. Root Financial Partners LLC now owns 718 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 442 shares during the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

About Qorvo

Qorvo, Inc is a semiconductor company that develops radio-frequency (RF) and power-management solutions for connected devices and electronic systems. Its products help transmit, receive, amplify, filter and manage wireless signals across a range of communications and industrial applications.

The company provides RF modules, integrated circuits, discrete components, filters, amplifiers, switches and related technologies. These products support smartphones and other mobile devices, wireless infrastructure, Wi-Fi and broadband equipment, automotive systems, the Internet of Things, consumer electronics, and aerospace and defense applications.

Qorvo was formed in 2015 through the merger of RF Micro Devices and TriQuint Semiconductor.