Qorvo (NASDAQ:QRVO – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

QRVO has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of Qorvo in a research note on Thursday, August 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $95.00 price target on shares of Qorvo in a research note on Thursday, August 3rd. Summit Insights lowered shares of Qorvo from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. BNP Paribas upgraded shares of Qorvo from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Thursday, August 3rd. Finally, Mizuho lowered their price objective on shares of Qorvo from $107.00 to $97.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.33.

Read Our Latest Analysis on Qorvo

Qorvo Stock Performance

QRVO traded up $0.92 on Friday, hitting $97.42. 1,378,561 shares of the company’s stock were exchanged, compared to its average volume of 1,256,504. The firm has a market cap of $9.48 billion, a PE ratio of -97.42, a P/E/G ratio of 2.15 and a beta of 1.48. Qorvo has a twelve month low of $80.62 and a twelve month high of $114.59. The stock has a fifty day moving average of $91.92 and a two-hundred day moving average of $98.04. The company has a current ratio of 3.37, a quick ratio of 2.12 and a debt-to-equity ratio of 0.54.

Qorvo (NASDAQ:QRVO – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.49 by $0.50. Qorvo had a negative net margin of 3.21% and a positive return on equity of 6.92%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1 billion. On average, research analysts anticipate that Qorvo will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Walden C. Rhines acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average price of $93.19 per share, with a total value of $465,950.00. Following the purchase, the director now owns 67,145 shares of the company’s stock, valued at approximately $6,257,242.55. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Qorvo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Qorvo by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,196,858 shares of the semiconductor company’s stock valued at $1,513,630,000 after buying an additional 58,395 shares during the period. BlackRock Inc. boosted its stake in shares of Qorvo by 1.3% during the 2nd quarter. BlackRock Inc. now owns 8,589,281 shares of the semiconductor company’s stock valued at $876,364,000 after buying an additional 113,870 shares during the period. Baupost Group LLC MA boosted its stake in shares of Qorvo by 11.8% during the 1st quarter. Baupost Group LLC MA now owns 6,645,712 shares of the semiconductor company’s stock valued at $824,733,000 after buying an additional 699,968 shares during the period. State Street Corp boosted its stake in shares of Qorvo by 0.3% during the 1st quarter. State Street Corp now owns 4,801,902 shares of the semiconductor company’s stock valued at $595,916,000 after buying an additional 16,097 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Qorvo by 91,166.7% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,613,532 shares of the semiconductor company’s stock valued at $470,719,000 after buying an additional 4,608,477 shares during the period. Institutional investors and hedge funds own 85.60% of the company’s stock.

About Qorvo (Get Free Report)

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.

Further Reading

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Original: MarketBeat News Feed: Qorvo (NASDAQ:QRVO) Rating Lowered to Hold at StockNews.com