Qorvo (NASDAQ:QRVO) Shares Gap Down – Time to Sell?

Qorvo, Inc. (NASDAQ:QRVO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $82.59, but opened at $78.75. Qorvo shares last traded at $80.30, with a volume of 469,609 shares changing hands.

Analyst Upgrades and Downgrades

QRVO has been the subject of several research analyst reports. Bank of America dropped their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Qorvo in a report on Wednesday, January 29th. Craig Hallum cut their price target on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Mizuho increased their price objective on shares of Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Qorvo currently has a consensus rating of “Hold” and a consensus target price of $95.84.

Qorvo Stock Performance

The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 275.11, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41. The stock has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $90.27.

Insider Activity at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 30,261 shares of the company’s stock, valued at $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QRVO. Larson Financial Group LLC raised its position in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 201 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Qorvo during the fourth quarter worth $37,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Qorvo in the 3rd quarter worth about $41,000. Versant Capital Management Inc boosted its holdings 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 valued at $42,000 after buying an additional 286 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Qorvo by 33.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 104 shares during the period. 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.