Brokerages Set Qorvo, Inc. (NASDAQ:QRVO) Target Price at $95.84

Qorvo, Inc. (NASDAQ:QRVO) has received an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $95.84.

QRVO has been the subject of several analyst reports. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price target on shares of Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Bank of America dropped their price target on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, October 30th. BNP Paribas downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a research note on Wednesday, October 30th. Finally, TD Cowen lowered their target price on shares of Qorvo from $125.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th.

Insider Activity

In related news, SVP Philip Chesley sold 4,045 shares of the business’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 directly owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Qorvo

Hedge funds have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new stake in shares of Qorvo in the fourth quarter valued at approximately $28,000. Huntington National Bank raised its position in shares of Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Larson Financial Group LLC raised its position in shares of Qorvo by 163.4% in 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. SBI Securities Co. Ltd. bought a new stake in shares of Qorvo in the fourth quarter valued at approximately $37,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Qorvo in the third quarter valued at approximately $41,000. Institutional investors own 88.57% of the company’s stock.

Qorvo Stock Performance

Shares of Qorvo stock opened at $77.01 on Thursday. Qorvo has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The firm has a market capitalization of $7.19 billion, a P/E ratio of 275.04, a P/E/G ratio of 15.93 and a beta of 1.41. The company’s 50 day moving average price is $75.56 and its two-hundred day moving average price is $88.78.

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.