Qorvo (NASDAQ:QRVO) Upgraded at Wall Street Zen

Qorvo (NASDAQ:QRVO) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Qorvo from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. UBS Group boosted their price target on shares of Qorvo from $87.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Mizuho reissued an “underperform” rating and issued a $66.00 price target (down from $70.00) on shares of Qorvo in a research note on Monday, April 20th. Zacks Research lowered shares of Qorvo from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qorvo in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and an average price target of $97.07.

Qorvo Trading Up 0.4%

Shares of Qorvo stock traded up $0.36 during midday trading on Friday, reaching $85.81. 783,285 shares of the company’s stock traded hands, compared to its average volume of 1,231,137. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.46 and a current ratio of 3.24. The company has a market cap of $7.57 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.44. The stock has a 50 day moving average of $95.86 and a 200-day moving average of $86.56. Qorvo has a 12 month low of $74.92 and a 12 month high of $109.49.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.48. The company had revenue of $808.28 million during the quarter, compared to analyst estimates of $801.31 million. Qorvo had a return on equity of 15.32% and a net margin of 9.22%.The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 earnings per share. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. As a group, equities analysts expect that Qorvo will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Qorvo

In other news, VP Gina Harrison sold 4,714 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $100.00, for a total value of $471,400.00. Following the sale, the vice president directly owned 24,429 shares of the company’s stock, valued at $2,442,900. This represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter A. Feld sold 1,900,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $101.20, for a total transaction of $192,280,000.00. Following the completion of the sale, the director directly owned 5,611,526 shares in the company, valued at $567,886,431.20. This represents a 25.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,966,127 shares of company stock worth $198,911,103. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Qorvo

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. Jain Global LLC boosted its stake in Qorvo by 71.6% during the 3rd quarter. Jain Global LLC now owns 277,219 shares of the semiconductor company’s stock valued at $25,249,000 after purchasing an additional 115,640 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Qorvo by 58.7% in the third quarter. JPMorgan Chase & Co. now owns 313,156 shares of the semiconductor company’s stock worth $28,522,000 after purchasing an additional 115,890 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Qorvo by 2,687.9% in the fourth quarter. SG Americas Securities LLC now owns 234,464 shares of the semiconductor company’s stock worth $19,815,000 after purchasing an additional 226,054 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Qorvo by 2.3% during the fourth quarter. LSV Asset Management now owns 1,555,461 shares of the semiconductor company’s stock valued at $131,452,000 after purchasing an additional 34,605 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Qorvo by 3,397.3% during the fourth quarter. M&T Bank Corp now owns 150,173 shares of the semiconductor company’s stock valued at $12,691,000 after purchasing an additional 145,879 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc is a leading provider of advanced radio-frequency (RF), analog and mixed-signal semiconductor solutions. The company designs, develops and manufactures a broad portfolio of components and modules that enable wireless and wired connectivity across mobile devices, network infrastructure, defense systems and Internet of Things (IoT) applications.

Qorvo’s product offerings include RF filters, power amplifiers, switches, integrated front-end modules and other custom mixed-signal devices.