J.P. Morgan Reiterates a Buy Rating on Qorvo

By Ryan Adsit

In a report released today, Bill Peterson from J.P. Morgan reiterated a Buy rating on Qorvo (NASDAQ: QRVO), with a price target of $70. The company’s shares opened today at $48.36.

Currently, the analyst consensus on Qorvo is Moderate Buy and the average price target is $62.50, representing a 29.2% upside.

In a report issued on October 20, Brean Capital also reiterated a Buy rating on the stock.

The company has a one year high of $64.80 and a one year low of $33.30. Currently, Qorvo has an average volume of 1.56M.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Roderick Nelson, a Director at QRVO sold 3,100 shares for a total of $175,150.

Qorvo, Inc. engages in the provision of core technologies and radio frequency solutions for mobile, infrastructure, and aerospace or defense applications. The company operates through two segments: Mobile Products, Infrastructure and 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 and 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.