Qorvo (QRVO) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Qorvo (NASDAQ:QRVO) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also commented on the stock. Summit Redstone lowered shares of Qorvo from a hold rating to a sell rating in a research report on Thursday, February 1st. Canaccord Genuity raised their target price on shares of Qorvo from $81.00 to $89.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Oppenheimer reaffirmed a hold rating on shares of Qorvo in a research report on Thursday, February 1st. BMO Capital Markets raised their target price on shares of Qorvo from $63.00 to $70.00 and gave the stock a market perform rating in a research report on Thursday, February 1st. Finally, Morgan Stanley raised their target price on shares of Qorvo from $70.00 to $74.00 and gave the stock an equal weight rating in a research report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $80.42.

Qorvo (QRVO) opened at $77.31 on Friday. The company has a market cap of $9,780.00, a P/E ratio of 368.14, a PEG ratio of 1.36 and a beta of 1.05. Qorvo has a 1 year low of $62.68 and a 1 year high of $85.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.62 and a current ratio of 4.72.

Qorvo (NASDAQ:QRVO) last issued its earnings results on Wednesday, January 31st. The semiconductor company reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.09. The business had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $1.35 earnings per share. research analysts anticipate that Qorvo will post 4.49 EPS for the current year.

In other Qorvo news, Director Walter H. Wilkinson sold 15,925 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $80.02, for a total value of $1,274,318.50. Following the completion of the sale, the director now directly owns 62,480 shares in the company, valued at $4,999,649.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James L. Klein sold 2,211 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $74.76, for a total transaction of $165,294.36. Following the completion of the sale, the vice president now owns 42,604 shares of the company’s stock, valued at $3,185,075.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,996 shares of company stock worth $3,193,399. 0.91% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in QRVO. Advisor Group Inc. boosted its stake in Qorvo by 5.1% in the second quarter. Advisor Group Inc. now owns 2,584 shares of the semiconductor company’s stock valued at $164,000 after acquiring an additional 126 shares in the last quarter. Stifel Financial Corp boosted its stake in Qorvo by 2.3% in the second quarter. Stifel Financial Corp now owns 13,080 shares of the semiconductor company’s stock valued at $830,000 after acquiring an additional 298 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Qorvo by 424.0% in the second quarter. Janus Henderson Group PLC now owns 77,882 shares of the semiconductor company’s stock valued at $4,932,000 after acquiring an additional 63,019 shares in the last quarter. Toronto Dominion Bank boosted its stake in Qorvo by 26.1% in the second quarter. Toronto Dominion Bank now owns 43,048 shares of the semiconductor company’s stock valued at $2,725,000 after acquiring an additional 8,911 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its stake in Qorvo by 1.4% in the second quarter. Sentry Investment Management LLC now owns 6,648 shares of the semiconductor company’s stock valued at $421,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 96.61% of the company’s stock.

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About Qorvo

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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