Qorvo (QRVO) Earning Somewhat Favorable Press Coverage, Analysis Finds

News stories about Qorvo (NASDAQ:QRVO) have been trending somewhat positive on Friday, according to Accern Sentiment Analysis. The research firm ranks the sentiment of news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Qorvo earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned news articles about the semiconductor company an impact score of 46.6504522182271 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:

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QRVO has been the topic of several research reports. Instinet raised shares of Qorvo from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday, February 1st. JPMorgan Chase set a $92.00 price target on shares of Qorvo and gave the company a “buy” rating in a research note on Friday, March 16th. Zacks Investment Research lowered shares of Qorvo from a “hold” rating to a “sell” rating in a research note on Monday, January 22nd. Nomura lowered shares of Qorvo from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $75.00 in a research note on Tuesday, March 20th. Finally, Needham & Company LLC lifted their price target on shares of Qorvo from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.47.

Shares of Qorvo stock traded down $0.75 during trading on Friday, hitting $69.88. 1,660,795 shares of the stock were exchanged, compared to its average volume of 2,096,275. The firm has a market capitalization of $9,249.21, a PE ratio of 17.25, a P/E/G ratio of 1.01 and a beta of 0.92. Qorvo has a 1-year low of $62.68 and a 1-year high of $86.84. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.72 and a quick ratio of 3.62.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, January 31st. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.09. The company had revenue of $845.70 million for the quarter, compared to analyst estimates of $841.09 million. Qorvo had a net margin of 0.95% and a return on equity of 11.72%. Qorvo’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. analysts expect that Qorvo will post 4.49 EPS for the current year.

In other news, VP Steven E. Creviston sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $78.97, for a total transaction of $473,820.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gina Harrison sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $82.83, for a total transaction of $82,830.00. Following the transaction, the vice president now owns 14,954 shares in the company, valued at $1,238,639.82. The disclosure for this sale can be found here. Insiders have sold a total of 21,500 shares of company stock worth $1,679,955 over the last 90 days. 0.91% of the stock is owned by company insiders.

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About Qorvo

Qorvo, Inc provides radio frequency (RF) solutions and technologies for mobile device, infrastructure, and defense and aerospace applications worldwide. It operates through Mobile Products (MP) and Infrastructure and Defense Products (IDP) segments. The MP segment offers cellular RF and WiFi solutions, bulk acoustic wave (BAW) and surface acoustic wave (SAW) filters, power amplifiers (PA), low noise amplifiers, switches, multi-band PAs and transmit modules, RF power management integrated circuits, diversity receive modules, antenna switch modules, antenna tuning and control solutions, modules incorporating PAs and duplexers, and modules incorporating switches, PAs, and duplexers.

Insider Buying and Selling by Quarter for Qorvo (NASDAQ:QRVO)

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