Qorvo Gets a Hold Rating from Cowen & Co.

By Jason Carr

In a report issued on September 12, Karl Ackerman from Cowen & Co. reiterated a Hold rating on Qorvo (NASDAQ: QRVO), with a price target of $85. The company’s shares closed on Friday at $75.49, close to its 52-week high of $79.34.

According to TipRanks.com, Ackerman is a 4-star analyst with an average return of 15.7% and a 73.7% success rate. Ackerman covers the Consumer Goods sector, focusing on stocks such as Ultra Clean Holdings, Skyworks Solutions, and Ichor Holdings Ltd.

Currently, the analyst consensus on Qorvo is Moderate Buy and the average price target is $79.75, representing a 5.6% upside.

In a report issued on September 13, KeyBanc also reiterated a Hold rating on the stock.

Based on Qorvo’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $641 million and GAAP net loss of $30.62 million. In comparison, last year the company earned revenue of $699 million and had a GAAP net loss of $5.68 million.

Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock.

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