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TipRanksStock Market NewsQRVO NewsRosenblatt Securities Remains a Hold on Qorvo (QRVO)
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Rosenblatt Securities Remains a Hold on Qorvo (QRVO)

In a report issued on January 31, Kevin Cassidy from Rosenblatt Securities maintained a Hold rating on Qorvo (QRVOResearch Report), with a price target of $190.00. The company’s shares closed last Monday at $128.50, close to its 52-week low of $123.92.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 29.2% and a 72.4% success rate. Cassidy covers the Technology sector, focusing on stocks such as Smart Global Holdings, Skyworks Solutions, and ON Semiconductor.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Qorvo with a $182.67 average price target, a 38.5% upside from current levels. In a report issued on January 25, Charter Equity also downgraded the stock to Hold.

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Based on Qorvo’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.11 billion and net profit of $216 million. In comparison, last year the company earned revenue of $1.09 billion and had a net profit of $201 million.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QRVO in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Qorvo, Inc. engages in the provision of core technologies and radio frequency solutions for mobile, infrastructure, and aerospace or defense applications. It operates through the following reportable segments: Mobile Products and Infrastructure & Defense Products. The Mobile Products segment supplies of RF solutions that perform various functions in the increasingly complex cellular radio front end section of smartphones and other cellular devices. The Infrastructure & Defense Products segment supplier of RF solutions that support diverse global applications, including ubiquitous high-speed network connectivity to the cloud, data center communications, rapid internet connectivity throughout the home and workplace, and upgraded military capabilities across the globe. Its products include amplifiers, control products, discrete transistors and integrated circuits, filters and duplexers, frequency converters, integrated modules, optical components, oscillators, passives and switches. The company was founded on December 13, 2013 and is headquartered in Greensboro, NC.

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