Qorvo, Inc. (NASDAQ:QRVO) Receives Average Rating of “Hold” from Brokerages

Shares of Qorvo, Inc. (NASDAQ:QRVO) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $95.84.

QRVO has been the topic of several recent analyst reports. Loop Capital increased their target price on shares of Qorvo from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Mizuho raised their price objective on Qorvo from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Citigroup reduced their target price on Qorvo from $72.00 to $69.00 and set a “sell” rating for the company in a research note on Wednesday, January 29th. Piper Sandler raised shares of Qorvo from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Finally, The Goldman Sachs Group cut their price target on shares of Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a report on Friday, January 10th.

Qorvo Stock Performance

QRVO opened at $72.23 on Friday. The stock has a market cap of $6.75 billion, a P/E ratio of 257.96, a P/E/G ratio of 15.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.60 and a quick ratio of 1.78. The firm has a fifty day moving average price of $76.44 and a 200 day moving average price of $79.81. Qorvo has a 1 year low of $64.54 and a 1 year high of $130.99.

Hedge Funds Weigh In On Qorvo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in Qorvo by 20.7% in the third quarter. Cerity Partners LLC now owns 8,020 shares of the semiconductor company’s stock valued at $828,000 after acquiring an additional 1,373 shares during the last quarter. Larson Financial Group LLC raised its position in Qorvo by 163.4% in the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 201 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Qorvo by 51.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,442 shares of the semiconductor company’s stock valued at $2,008,000 after purchasing an additional 6,644 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Qorvo by 36.5% during the 3rd quarter. Bank of Montreal Can now owns 124,514 shares of the semiconductor company’s stock worth $12,900,000 after purchasing an additional 33,281 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in shares of Qorvo during the 3rd quarter worth about $401,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

About Qorvo

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.