Qorvo (NASDAQ:QRVO) Given New $90.00 Price Target at UBS Group

Qorvo (NASDAQ:QRVO) had its price objective reduced by UBS Group from $115.00 to $90.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other analysts have also commented on QRVO. Piper Sandler reduced their price target on shares of Qorvo from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Craig Hallum cut their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James lowered shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Rosenblatt Securities upped their price target on shares of Qorvo from $105.00 to $120.00 and gave the stock a “neutral” rating in a research 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, fifteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $104.47.

Qorvo Stock Down 27.3 %

Shares of Qorvo stock opened at $73.04 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 1.95. The stock has a market capitalization of $6.94 billion, a PE ratio of -100.05, a price-to-earnings-growth ratio of 1.20 and a beta of 1.45. Qorvo has a 52-week low of $71.31 and a 52-week high of $130.99. The company has a 50-day simple moving average of $104.86 and a two-hundred day simple moving average of $107.98.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Qorvo had a negative net margin of 0.66% and a positive return on equity of 14.92%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $1.99 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts anticipate that Qorvo will post 4.84 EPS for the current fiscal year.

Insider Activity at Qorvo

In related news, VP Gina Harrison sold 689 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $107.67, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Qorvo during the second quarter valued at $29,000. Park Place Capital Corp grew its holdings in shares of 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 purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Qorvo by 81.0% in the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 115 shares during the last quarter. Versant Capital Management Inc boosted its position in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 280 shares during the period. Finally, New Millennium Group LLC bought a new position in Qorvo in the 2nd quarter worth about $34,000. Institutional investors own 88.57% of the company’s stock.

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.