Qorvo (NASDAQ:QRVO) Rating Lowered to Hold at StockNews.com

Qorvo (NASDAQ:QRVOGet Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

QRVO has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Qorvo in a research note on Thursday, February 1st. Summit Insights cut shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Craig Hallum boosted their price target on shares of Qorvo from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their price target on shares of Qorvo from $104.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Piper Sandler cut their price target on shares of Qorvo from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.17.

View Our Latest Research Report on Qorvo

Qorvo Price Performance

Shares of NASDAQ:QRVO opened at $112.32 on Thursday. The company has a 50 day moving average of $106.55 and a 200 day moving average of $100.20. The stock has a market cap of $10.84 billion, a P/E ratio of -52.24, a P/E/G ratio of 1.15 and a beta of 1.55. Qorvo has a 12 month low of $80.62 and a 12 month high of $114.97. The company has a current ratio of 1.90, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43.

Insider Activity at Qorvo

In other news, Director Walden C. Rhines purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average cost of $93.19 per share, for a total transaction of $465,950.00. Following the acquisition, the director now directly owns 67,145 shares of the company’s stock, valued at approximately $6,257,242.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Walden C. Rhines acquired 5,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was acquired at an average cost of $93.19 per share, for a total transaction of $465,950.00. Following the acquisition, the director now owns 67,145 shares of the company’s stock, valued at $6,257,242.55. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,033,877.60. Following the completion of the transaction, the senior vice president now owns 29,539 shares of the company’s stock, valued at $2,886,551.08. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QRVO. Vanguard Group Inc. grew its position in shares of Qorvo by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock worth $1,513,630,000 after buying an additional 58,395 shares during the period. 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 valued at $876,364,000 after purchasing an additional 113,870 shares during 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 valued at $824,733,000 after purchasing an additional 699,968 shares during 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 valued at $595,916,000 after purchasing an additional 16,097 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Qorvo by 646.2% during the 3rd quarter. Barclays PLC now owns 3,866,040 shares of the semiconductor company’s stock valued at $369,091,000 after acquiring an additional 3,347,972 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors.

About Qorvo

(Get Free Report)

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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