Qorvo (NASDAQ:QRVO) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Qorvo (NASDAQ:QRVO) from an equal weight rating to an overweight rating in a report published on Tuesday morning, Marketbeat Ratings reports. They currently have $106.00 price objective on the semiconductor company’s stock, up from their previous price objective of $90.00.

A number of other equities analysts have also recently weighed in on the stock. UBS Group lowered their price objective on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded Qorvo from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Raymond James lowered Qorvo from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Craig Hallum cut their price objective on shares of Qorvo from $142.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Barclays cut their target price on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.65.

Qorvo Stock Up 4.0 %

Shares of QRVO stock opened at $90.57 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $71.72 and a 200 day moving average of $93.02. Qorvo has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a market cap of $8.56 billion, a P/E ratio of -62.03, a P/E/G ratio of 7.02 and a beta of 1.40.

Qorvo (NASDAQ:QRVO) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Qorvo had a negative net margin of 3.58% and a positive return on equity of 13.81%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $1.99 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Qorvo will post 3.37 EPS for the current year.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $70.15, for a total transaction of $283,756.75. Following the transaction, the senior vice president now owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Qorvo during the 3rd quarter worth about $41,000. Farther Finance Advisors LLC lifted its position in shares of Qorvo by 33.7% during the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Qorvo by 89.7% during the 4th quarter. Versant Capital Management Inc now owns 605 shares of the semiconductor company’s stock worth $42,000 after buying an additional 286 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Qorvo by 33.8% during the third quarter. UMB Bank n.a. now owns 736 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 186 shares during the period. Institutional investors 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.