Qorvo (NASDAQ:QRVO) Sets New 12-Month High – Should You Buy?

Shares of Qorvo, Inc. (NASDAQ:QRVO) reached a new 52-week high on Friday . The stock traded as high as $120.76 and last traded at $117.30, with a volume of 95631 shares traded. The stock had previously closed at $119.51.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on QRVO shares. Citigroup dropped their target price on Qorvo from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. UBS Group raised their price target on shares of Qorvo from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. TD Cowen reiterated a “hold” rating on shares of Qorvo in a research note on Wednesday, July 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qorvo in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Qorvo has a consensus rating of “Hold” and a consensus price target of $94.00.

Qorvo Trading Down 1.2%

The business has a 50-day moving average price of $96.22 and a two-hundred day moving average price of $91.31. The stock has a market capitalization of $10.41 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.97 and a beta of 1.45. The company has a current ratio of 3.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.45.

Qorvo (NASDAQ:QRVO) last issued its quarterly earnings results on Tuesday, July 28th. The semiconductor company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.53. Qorvo had a return on equity of 17.23% and a net margin of 10.95%.The company had revenue of $784.79 million for the quarter, compared to analysts’ expectations of $743.28 million. During the same quarter last year, the business earned $0.92 earnings per share. Qorvo’s revenue was down 4.2% on a year-over-year basis. Qorvo has set its FY 2027 guidance at 7.000-7.000 EPS. On average, analysts expect that Qorvo, Inc. will post 6.42 EPS for the current fiscal year.

Insider Activity

In other news, SVP Frank P. Stewart sold 8,279 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $94.72, for a total transaction of $784,186.88. Following the completion of the sale, the senior vice president owned 43,069 shares of the company’s stock, valued at approximately $4,079,495.68. This represents a 16.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul J. Fego sold 2,500 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $114.11, for a total transaction of $285,275.00. Following the sale, the senior vice president owned 74,460 shares in the company, valued at $8,496,630.60. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 62,309 shares of company stock valued at $6,304,642. Company insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QRVO. Wedmont Private Capital boosted its stake in Qorvo by 1.6% in the 2nd quarter. Wedmont Private Capital now owns 10,247 shares of the semiconductor company’s stock worth $879,000 after purchasing an additional 162 shares during the period. Fifth Third Wealth Advisors LLC raised its position in shares of Qorvo by 4.4% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,955 shares of the semiconductor company’s stock valued at $306,000 after buying an additional 167 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Qorvo by 14.6% in the fourth quarter. Larson Financial Group LLC now owns 1,483 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares in the last quarter. Optimize Financial Inc lifted its holdings in shares of Qorvo by 1.5% in the fourth quarter. Optimize Financial Inc now owns 15,024 shares of the semiconductor company’s stock worth $1,270,000 after buying an additional 216 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Qorvo by 29.6% during the first quarter. Parallel Advisors LLC now owns 1,230 shares of the semiconductor company’s stock worth $95,000 after acquiring an additional 281 shares during the last quarter. 88.57% of the stock is currently owned by institutional investors and hedge funds.

Qorvo Company Profile

Qorvo, Inc is a semiconductor company that develops and manufactures radio-frequency (RF) and related connectivity solutions. Its products are used to generate, filter, amplify and manage wireless signals in communications equipment and electronic devices.

The company supplies RF components, modules and integrated circuits for smartphones, cellular base stations, Wi-Fi equipment, automotive systems, Internet of Things devices, consumer electronics, and aerospace and defense applications.