Piper Sandler Lowers Qorvo (NASDAQ:QRVO) Price Target to $105.00

Qorvo (NASDAQ:QRVOFree Report) had its price target reduced by Piper Sandler from $120.00 to $105.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the company. Susquehanna decreased their target price on Qorvo from $110.00 to $95.00 and set a neutral rating for the company in a research note on Tuesday, October 24th. Needham & Company LLC restated a buy rating and issued a $125.00 target price on shares of Qorvo in a research note on Thursday. Barclays lifted their price target on Qorvo from $95.00 to $100.00 and gave the company an equal weight rating in a report on Tuesday, January 16th. Summit Insights cut Qorvo from a buy rating to a hold rating in a report on Thursday, November 2nd. Finally, Raymond James lifted their price target on Qorvo from $115.00 to $120.00 and gave the company an outperform rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $111.17.

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Qorvo Stock Performance

Shares of QRVO stock opened at $103.59 on Thursday. The company has a quick ratio of 2.12, a current ratio of 1.90 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $105.05 and a two-hundred day moving average of $99.97. Qorvo has a 52 week low of $80.62 and a 52 week high of $114.97. The company has a market cap of $10.08 billion, a P/E ratio of -48.18, a PEG ratio of 1.60 and a beta of 1.55.

Insider Buying and Selling at Qorvo

In other Qorvo news, SVP Philip Chesley sold 10,580 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $97.72, for a total value of $1,033,877.60. Following the transaction, the senior vice president now owns 29,539 shares of the company’s stock, valued at $2,886,551.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Walden C. Rhines purchased 5,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were bought at an average price of $93.19 per share, with a total value of $465,950.00. Following the completion of the acquisition, the director now owns 67,145 shares of the company’s stock, valued at $6,257,242.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Philip Chesley sold 10,580 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $97.72, for a total value of $1,033,877.60. Following the completion of the transaction, the senior vice president now directly owns 29,539 shares in the company, valued at approximately $2,886,551.08. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QRVO. Vanguard Group Inc. grew its position in Qorvo by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after purchasing an additional 58,395 shares in the last quarter. BlackRock Inc. grew its position in Qorvo by 1.3% during the 2nd quarter. BlackRock Inc. now owns 8,589,281 shares of the semiconductor company’s stock worth $876,364,000 after purchasing an additional 113,870 shares in the last quarter. Baupost Group LLC MA grew its position in Qorvo by 11.8% during the 1st quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock worth $824,733,000 after purchasing an additional 699,968 shares in the last quarter. State Street Corp grew its position in Qorvo by 0.3% during the 1st quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock worth $595,916,000 after purchasing an additional 16,097 shares in the last quarter. Finally, Barclays PLC grew its position in Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock worth $369,091,000 after purchasing an additional 3,347,972 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.

About Qorvo

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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.

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Analyst Recommendations for Qorvo (NASDAQ:QRVO)

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