Qorvo, Inc. (NASDAQ:QRVO) Given Consensus Recommendation of “Hold” by Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been assigned an average recommendation of “Hold” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $95.84.

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research report on Wednesday, January 29th. The Goldman Sachs Group lowered their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Loop Capital raised their price objective on Qorvo from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, Mizuho upped their target price on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th.

Institutional Trading of Qorvo

Several hedge funds and other institutional investors have recently bought and sold shares of QRVO. Rakuten Securities Inc. bought a new stake in shares of Qorvo during the fourth quarter valued at approximately $28,000. Huntington National Bank boosted its stake in Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Larson Financial Group LLC increased its holdings in Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Qorvo in the 4th quarter valued at $37,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 286 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Price Performance

Shares of QRVO opened at $73.69 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The firm has a market cap of $6.88 billion, a PE ratio of 263.18, a PEG ratio of 15.57 and a beta of 1.48. The firm’s 50 day moving average price is $77.24 and its 200 day moving average price is $80.88. Qorvo has a twelve month low of $64.54 and a twelve month high of $130.99.

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.