Analysts at Westpark Capital started coverage on shares of Qorvo (NASDAQ:QRVO) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the semiconductor company’s stock.
A number of other research firms also recently weighed in on QRVO. Piper Sandler boosted their target price on Qorvo from $190.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 23rd. Mizuho upped their price target on Qorvo from $183.00 to $215.00 and gave the company a “buy” rating in a report on Friday, April 9th. Craig Hallum increased their target price on Qorvo from $195.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, May 6th. Rosenblatt Securities upped their price target on Qorvo from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, May 6th. Finally, Argus initiated coverage on Qorvo in a report on Thursday, July 1st. They set a “buy” rating and a $225.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Qorvo has an average rating of “Buy” and a consensus target price of $199.48.
Shares of QRVO stock opened at $192.42 on Thursday. Qorvo has a 52 week low of $110.28 and a 52 week high of $201.68. The stock’s 50 day moving average is $182.71. The company has a current ratio of 3.64, a quick ratio of 2.90 and a debt-to-equity ratio of 0.38. The firm has a market cap of $21.41 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40.
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Qorvo (NASDAQ:QRVO) last issued its quarterly earnings data on Wednesday, May 5th. The semiconductor company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.51. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Qorvo had a return on equity of 23.45% and a net margin of 18.27%. As a group, equities analysts expect that Qorvo will post 10.61 EPS for the current year.
In other Qorvo news, VP Gina Harrison sold 1,113 shares of the business’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $183.25, for a total value of $203,957.25. Also, CEO Robert A. Bruggeworth sold 555 shares of the company’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $185.28, for a total transaction of $102,830.40. Following the completion of the sale, the chief executive officer now owns 164,700 shares in the company, valued at approximately $30,515,616. The disclosure for this sale can be found here. Insiders have sold a total of 29,061 shares of company stock valued at $5,069,891 over the last three months. Corporate insiders own 0.52% of the company’s stock.
Large investors have recently made changes to their positions in the stock. KB Financial Partners LLC bought a new stake in shares of Qorvo during the 1st quarter valued at about $26,000. Capital Asset Advisory Services LLC acquired a new stake in Qorvo during the fourth quarter valued at approximately $30,000. Huntington National Bank lifted its position in shares of Qorvo by 172.5% in the 1st quarter. Huntington National Bank now owns 188 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 119 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of Qorvo by 39.7% in the 1st quarter. CENTRAL TRUST Co now owns 190 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 54 shares in the last quarter. Finally, Valley Brook Capital Group purchased a new stake in shares of Qorvo in the 4th quarter valued at approximately $33,000. 83.44% of the stock is owned by institutional investors and hedge funds.
About Qorvo
Qorvo, Inc develops and commercializes technologies and products for wireless and wired connectivity worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. The company offers integrated modules incorporating switches, power amplifiers, filters, multiplexers and other components, radio frequency (RF) power management integrated circuits, antenna tuners, antenna-plexers, discrete filters and duplexers, discrete switches, and ultra-wideband (UWB) system solutions.
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