Qorvo (NASDAQ:QRVO) Earns “Hold” Rating from Benchmark

Qorvo (NASDAQ:QRVO)‘s stock had its “hold” rating reissued by investment analysts at Benchmark in a report released on Wednesday,Benzinga reports.

A number of other research analysts have also recently weighed in on the stock. Raymond James cut shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. UBS Group dropped their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their price target on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. TD Cowen reduced their price objective on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Finally, Craig Hallum cut their target price on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $95.22.

Qorvo Trading Down 2.1 %

Shares of QRVO opened at $85.78 on Wednesday. Qorvo has a twelve month low of $64.54 and a twelve month high of $130.99. The firm has a market capitalization of $8.11 billion, a P/E ratio of -58.75, a price-to-earnings-growth ratio of 6.98 and a beta of 1.40. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $73.00 and its 200 day simple moving average is $91.88.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data 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 positive return on equity of 13.81% and a negative net margin of 3.58%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $1.99 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Qorvo will post 3.37 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the transaction, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

Several hedge funds have recently added to or reduced their stakes in QRVO. Larson Financial Group LLC increased its holdings in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Qorvo in the 3rd quarter valued at about $41,000. Versant Capital Management Inc increased its stake in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 286 shares during the period. Farther Finance Advisors LLC raised its position in shares of Qorvo by 33.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in shares of Qorvo by 2,621.4% in the 4th quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 734 shares during the period. Institutional investors own 88.57% of the company’s stock.

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.