Qorvo (NASDAQ:QRVO) Price Target Lowered to $105.00 at Craig Hallum

Qorvo (NASDAQ:QRVO) had its target price cut by Craig Hallum from $142.00 to $105.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

QRVO has been the topic of a number of other reports. Barclays dropped their price target on shares of Qorvo from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a report on Wednesday. Needham & Company LLC assumed coverage on Qorvo in a research note on Monday, October 28th. They issued a “buy” rating and a $135.00 target price for the company. Rosenblatt Securities increased their price target on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.47.

Qorvo Trading Up 0.8 %

NASDAQ:QRVO opened at $71.86 on Wednesday. Qorvo has a 12 month low of $70.39 and a 12 month high of $130.99. The company has a current ratio of 1.90, a quick ratio of 1.36 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $102.41 and its 200 day moving average is $107.22. The stock has a market capitalization of $6.79 billion, a PE ratio of -49.22, a price-to-earnings-growth ratio of 3.98 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.99 EPS. Sell-side analysts expect that Qorvo will post 4.84 earnings per share for the current year.

Insider Activity

In other Qorvo news, VP Gina Harrison sold 689 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total value of $74,184.63. Following the sale, the vice president now owns 21,601 shares of the company’s stock, valued at $2,325,779.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QRVO. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Qorvo in the 2nd quarter worth about $29,000. Park Place Capital Corp lifted its holdings in Qorvo by 398.1% in the first quarter. Park Place Capital Corp now owns 259 shares of the semiconductor company’s stock worth $30,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC boosted its position in Qorvo by 81.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 115 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Qorvo by 9,333.3% during the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 280 shares during the period. Finally, New Millennium Group LLC bought a new position in shares of Qorvo in the 2nd quarter worth approximately $34,000. 88.57% of the stock is owned by hedge funds and other 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.