Qorvo, Inc. (NASDAQ:QRVO) Given Average Rating of “Hold” by Analysts

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been given an average rating of “Hold” by the nineteen analysts that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $95.84.

A number of brokerages recently issued reports on QRVO. Mizuho increased their target price on shares of Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Qorvo from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Stifel Nicolaus dropped their target price on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Finally, Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $110.00 in a research note on Monday, January 27th.

Qorvo Trading Down 1.7 %

Shares of QRVO stock opened at $73.69 on Friday. Qorvo has a 1 year low of $64.54 and a 1 year high of $130.99. The firm has a market capitalization of $6.88 billion, a PE ratio of 263.18, a price-to-earnings-growth ratio of 15.57 and a beta of 1.48. The stock has a fifty day moving average of $77.24 and a two-hundred day moving average of $80.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60.

Institutional Trading of Qorvo

Several hedge funds and other institutional investors have recently modified their holdings of QRVO. Ameriprise Financial Inc. boosted its holdings in shares of Qorvo by 102.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,597,546 shares of the semiconductor company’s stock worth $251,577,000 after purchasing an additional 1,816,811 shares during the period. FIL Ltd boosted its stake in shares of Qorvo by 5.3% during the 4th quarter. FIL Ltd now owns 3,324,241 shares of the semiconductor company’s stock valued at $232,464,000 after buying an additional 166,461 shares during the period. Vulcan Value Partners LLC grew its holdings in shares of Qorvo by 53.7% during the 4th quarter. Vulcan Value Partners LLC now owns 2,581,296 shares of the semiconductor company’s stock valued at $180,487,000 after acquiring an additional 902,353 shares in the last quarter. Amundi increased its stake in shares of Qorvo by 84.4% in the fourth quarter. Amundi now owns 2,143,858 shares of the semiconductor company’s stock worth $156,673,000 after acquiring an additional 981,519 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Qorvo by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,698 shares of the semiconductor company’s stock worth $99,280,000 after acquiring an additional 264,167 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.