New Buy Rating for Qorvo (QRVO), the Technology Giant

In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Qorvo (QRVO), with a price target of $245.00. The company’s shares closed last Wednesday at $182.56.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 15.5% and a 66.8% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Currently, the analyst consensus on Qorvo is a Strong Buy with an average price target of $215.11, implying a 17.4% upside from current levels. In a report issued on April 23, Piper Sandler also maintained a Buy rating on the stock with a $220.00 price target.

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Qorvo’s market cap is currently $20.68B and has a P/E ratio of 44.50. The company has a Price to Book ratio of 17.60.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QRVO in relation to earlier this year. Most recently, in March 2021, Ralph Quinsey, a Director at QRVO sold 164,929 shares for a total of $29,618,307.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Qorvo, Inc. engages in the provision of core technologies and radio frequency solutions for mobile, infrastructure, and aerospace or defense applications. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment supplies of RF solutions that perform various functions in the increasingly complex cellular radio front end section of smartphones and other cellular devices. The Infrastructure & Defense Products segment supplier of RF solutions that support diverse global applications, including ubiquitous high-speed network connectivity to the cloud, data center communications, rapid internet connectivity throughout the home and workplace, and upgraded military capabilities across the globe. Its products include amplifiers, control products, discrete transistors and integrated circuits, filters and duplexers, frequency converters, integrated modules, optical components, oscillators, passives and switches. The company was founded on December 13, 2013 and is headquartered in Greensboro, NC.