After Oppenheimer and Raymond James gave Qorvo (NASDAQ: QRVO) a Buy rating last month, the company received another Buy, this time from Craig-Hallum. Analyst Anthony Stoss maintained a Buy rating on Qorvo today and set a price target of $195.00. The company’s shares closed last Thursday at $167.80.
According to TipRanks.com, Stoss is a 5-star analyst with an average return of 28.1% and a 70.9% success rate. Stoss covers the Technology sector, focusing on stocks such as Akoustis Technologies, Digi International, and ON Semiconductor.
Qorvo has an analyst consensus of Moderate Buy, with a price target consensus of $192.28, representing a 15.8% upside. In a report issued on January 28, Oppenheimer also assigned a Buy rating to the stock with a $220.00 price target.
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Based on Qorvo’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.06 billion and net profit of $137 million. In comparison, last year the company earned revenue of $807 million and had a net profit of $83.04 million.
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.
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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.
