Qorvo (NASDAQ:QRVO) Given New $95.00 Price Target at Susquehanna

Qorvo (NASDAQ:QRVO) had its price objective decreased by Susquehanna from $100.00 to $95.00 in a research note published on Thursday, Benzinga reports. Susquehanna currently has a neutral rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on QRVO. The Goldman Sachs Group increased their target price on shares of Qorvo from $104.00 to $117.00 and gave the company a neutral rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on shares of Qorvo from $95.00 to $105.00 and gave the stock an underweight rating in a research note on Thursday, February 1st. StockNews.com cut shares of Qorvo from a buy rating to a hold rating in a research report on Thursday, February 8th. Mizuho lowered their price objective on Qorvo from $115.00 to $105.00 and set a neutral rating for the company in a research report on Thursday. Finally, Craig Hallum boosted their price objective on Qorvo from $110.00 to $125.00 and gave the company a buy rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $110.83.

Qorvo Trading Up 0.3 %

QRVO traded up $0.28 during trading on Thursday, reaching $95.95. 2,424,521 shares of the company’s stock were exchanged, compared to its average volume of 1,436,907. The firm has a fifty day moving average price of $113.15 and a two-hundred day moving average price of $105.59. The stock has a market capitalization of $9.26 billion, a PE ratio of -131.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.53. Qorvo has a one year low of $80.62 and a one year high of $121.65. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.44.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.18. The company had revenue of $941.00 million for the quarter, compared to analysts’ expectations of $927.24 million. Qorvo had a negative net margin of 1.86% and a positive return on equity of 13.43%. Qorvo’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, equities research analysts forecast that Qorvo will post 6.69 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Paul J. Fego sold 3,027 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total value of $345,078.00. Following the sale, the senior vice president now owns 29,705 shares in the company, valued at approximately $3,386,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Qorvo news, SVP Steven E. Creviston sold 3,000 shares of Qorvo stock in a transaction on Friday, March 1st. The shares were sold at an average price of $120.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now directly owns 77,552 shares of the company’s stock, valued at approximately $9,306,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul J. Fego sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $114.00, for a total transaction of $345,078.00. Following the transaction, the senior vice president now directly owns 29,705 shares in the company, valued at $3,386,370. The disclosure for this sale can be found here. Insiders sold 6,381 shares of company stock worth $745,434 over the last three months. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Qorvo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. RIA Advisory Group LLC purchased a new stake in shares of Qorvo during the 1st quarter worth approximately $295,000. Daiwa Securities Group Inc. increased its holdings in Qorvo by 44.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 13,247 shares of the semiconductor company’s stock worth $1,521,000 after acquiring an additional 4,072 shares during the last quarter. Nordea Investment Management AB raised its stake in Qorvo by 1.2% in the 1st quarter. Nordea Investment Management AB now owns 373,914 shares of the semiconductor company’s stock valued at $42,974,000 after acquiring an additional 4,257 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Qorvo during the first quarter valued at about $58,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Qorvo by 13.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,708 shares of the semiconductor company’s stock worth $311,000 after purchasing an additional 315 shares during the period. Hedge funds and other institutional investors 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.