Stifel Nicolaus Has Lowered Expectations for Qorvo (NASDAQ:QRVO) Stock Price

Qorvo (NASDAQ:QRVO) had its price target dropped by investment analysts at Stifel Nicolaus from $95.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 4.92% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Barclays dropped their target price on shares of Qorvo from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Bank of America dropped their target price on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. TD Cowen dropped their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Qorvo in a report on Wednesday. Finally, Susquehanna dropped their target price on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $94.95.

Qorvo Stock Down 2.1 %

QRVO stock opened at $85.78 on Wednesday. The company has a market cap of $8.11 billion, a price-to-earnings ratio of -58.75, a PEG 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. Qorvo has a 12 month low of $64.54 and a 12 month high of $130.99. The firm has a 50-day moving average of $73.00 and a two-hundred day moving average of $91.88.

Qorvo (NASDAQ:QRVO) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 EPS. As a group, analysts forecast that Qorvo will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Qorvo

In other Qorvo news, SVP Philip Chesley sold 4,045 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares of the company’s stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Qorvo

Large investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its stake in shares of Qorvo by 163.4% in the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 201 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Qorvo in the 3rd quarter worth approximately $41,000. Versant Capital Management Inc grew its stake in shares of Qorvo by 89.7% in the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 286 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after buying an additional 104 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in shares of Qorvo by 2,621.4% in the fourth quarter. CENTRAL TRUST Co now owns 762 shares of the semiconductor company’s stock worth $53,000 after buying an additional 734 shares during the period. Institutional investors and hedge funds 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.