BidaskClub downgraded shares of Qorvo (NASDAQ:QRVO) from a hold rating to a sell rating in a research report released on Saturday, February 17th.
Several other research analysts have also commented on QRVO. Craig Hallum lowered Qorvo from a buy rating to a hold rating and cut their price objective for the stock from $78.00 to $71.00 in a report on Thursday, November 2nd. Northland Securities lowered Qorvo from an outperform rating to a market perform rating in a report on Thursday, November 2nd. Drexel Hamilton reaffirmed a buy rating and issued a $95.00 target price on shares of Qorvo in a research note on Thursday, November 2nd. Needham & Company LLC reaffirmed a buy rating and issued a $84.00 target price on shares of Qorvo in a research note on Thursday, November 2nd. Finally, Morgan Stanley upped their target price on Qorvo from $68.00 to $69.00 and gave the stock an equal weight rating in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $81.47.
Shares of Qorvo (NASDAQ:QRVO) traded down $1.20 during midday trading on Friday, hitting $82.22. The stock had a trading volume of 1,390,917 shares, compared to its average volume of 2,490,000. Qorvo has a 52 week low of $62.68 and a 52 week high of $86.84. The company has a quick ratio of 3.62, a current ratio of 4.72 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $10,400.00, a price-to-earnings ratio of 84.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.
In other Qorvo news, Director Daniel A. Dileo sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $83.97, for a total value of $209,925.00. Following the completion of the sale, the director now owns 27,282 shares in the company, valued at $2,290,869.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gina Harrison sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $82.83, for a total value of $82,830.00. Following the completion of the sale, the vice president now owns 14,954 shares of the company’s stock, valued at approximately $1,238,639.82. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $1,915,645 in the last quarter. Corporate insiders own 0.91% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Qorvo by 1.4% during the fourth quarter. BlackRock Inc. now owns 8,601,788 shares of the semiconductor company’s stock valued at $572,880,000 after acquiring an additional 120,708 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Qorvo by 4.3% during the third quarter. Ameriprise Financial Inc. now owns 4,657,995 shares of the semiconductor company’s stock valued at $329,228,000 after acquiring an additional 194,106 shares in the last quarter. Boston Partners raised its holdings in shares of Qorvo by 47.5% during the fourth quarter. Boston Partners now owns 2,869,210 shares of the semiconductor company’s stock valued at $191,089,000 after acquiring an additional 924,017 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings in shares of Qorvo by 52.5% during the third quarter. Manning & Napier Advisors LLC now owns 2,443,052 shares of the semiconductor company’s stock valued at $172,674,000 after acquiring an additional 840,755 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Qorvo during the third quarter valued at approximately $118,506,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.
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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).
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