Qorvo, Inc. (NASDAQ:QRVO – Get Rating) has been assigned an average recommendation of “Hold” by the twenty-two analysts who currently cover the company, reports MarketBeat Ratings. One equity research analyst gave the stock a sell rating, eleven gave the company a hold rating and ten gave the company a buy rating. The 12-month average price target among brokers who have reported on the stock in the past year is $184.89.

QRVO has been the subject of several research reports. Rosenblatt Securities cut its price target on Qorvo shares from $190.00 to $170.00 and set a “neutral” rating on the stock in a Thursday, Feb. 3 research report. Zacks Investment Research moved Qorvo’s shares from a “hold” rating to a “sell” rating and set a price target of $135.00 for the stock. in a research report on Friday, February 4. Piper Sandler cut her price target on Qorvo shares from $200.00 to $190.00 and set an “overweight” rating on the stock in a Thursday, Feb. 3 research report. Summit Insights upgraded Qorvo’s shares from a “buy” rating to a “hold” rating and reduced its price target for the company from $225.00 to $190.00 in a Wednesday 3 research report November. Finally, Argus upgraded Qorvo’s shares from a “buy” rating to a “hold” rating in a Friday, November 5 research report.

Shares of QRVO opened at $137.76 on Friday. Qorvo has a 12-month low of $123.92 and a 12-month high of $201.68. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 14.22, a growth price-to-earnings ratio of 0.97 and a beta of 1.38. The company has a quick ratio of 2.15, a current ratio of 2.82 and a debt ratio of 0.37. The company has a fifty-day moving average of $142.40 and a 200-day moving average of $159.19.

Qorvo (NASDAQ:QRVO – Get Rating) last announced its quarterly results on Wednesday, February 2. The semiconductor company reported earnings per share (EPS) of $2.81 for the quarter, beating the consensus estimate of $2.53 by $0.28. The company posted revenue of $1.11 billion in the quarter, compared to analysts’ estimates of $1.11 billion. Qorvo had a net margin of 24.37% and a return on equity of 28.16%. The company’s revenue increased 1.8% year over year. In the same quarter of the previous year, the company achieved EPS of $2.95. Research analysts expect Qorvo to post earnings per share of 10.94 for the current year.

Separately, director John R. Harding sold 1,325 shares of the company in a trade dated Friday, Dec. 3. The shares were sold at an average price of $151.05, for a total value of $200,141.25. The sale was disclosed in an SEC filing, available on the SEC’s website. Additionally, Vice Chairman Paul J. Fego sold 861 shares of the company in a transaction dated Tuesday, February 15. The shares were sold at an average price of $131.78, for a total transaction of $113,462.58. The disclosure of this sale can be found here. 0.52% of the shares are currently held by company insiders.

A number of institutional investors and hedge funds have recently changed their positions in the stock. Baupost Group LLC MA increased its position in Qorvo shares by 16.9% during the 4th quarter. Baupost Group LLC MA now owns 5,945,744 shares of the semiconductor company worth $929,855,000 after purchasing an additional 861,278 shares last quarter. Vulcan Value Partners LLC increased its position in Qorvo shares by 30.1% during the 4th quarter. Vulcan Value Partners LLC now owns 5,640,650 shares of the semiconductor company worth $882,141,000 after buying an additional 1,304,458 shares last quarter. Boston Partners increased its position in Qorvo shares by 20.6% during the 4th quarter. Boston Partners now owns 4,746,394 shares of the semiconductor company worth $742,387,000 after buying an additional 809,212 shares last quarter. Capital Research Global Investors increased its equity stake in Qorvo by 11.9% during the 4th quarter. Capital Research Global Investors now owns 3,055,598 shares of the semiconductor company worth $477,865,000 after acquiring an additional 325,801 shares during the period. Finally, Geode Capital Management LLC increased its stake in Qorvo shares by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 2,240,291 shares of the semiconductor company worth $349,524,000 after acquiring an additional 115,942 shares during the period. Institutional investors and hedge funds hold 83.23% of the company’s shares.

About Korvo (Get a rating)

Qorvo, Inc engages in the development and commercialization of technologies and products for wireless and wired connectivity. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment is involved in the provision of cellular, UWB and Wi-Fi solutions for applications, including smartphones, wearables, laptops, tablets and Internet of Things.

See also

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Qorvo right now?

Before you consider Qorvo, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Qorvo wasn’t on the list.

While Qorvo currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here