Cowen & Co. Remains a Hold on Qorvo

By Ryan Adsit

Cowen & Co. analyst Timothy Arcuri reiterated a Hold rating on Qorvo (NASDAQ: QRVO) today and set a price target of $85. The company’s shares closed yesterday at $78.83, close to its 52-week high of $79.33.

According to TipRanks.com, Arcuri is a top 100 analyst with an average return of 21.3% and a 68.6% success rate. Arcuri covers the Technology sector, focusing on stocks such as ChipMOS Technologies, Skyworks Solutions, and Applied Materials.

Currently, the analyst consensus on Qorvo is Moderate Buy and the average price target is $74.22, representing a -5.8% downside.

In a report released yesterday, Oppenheimer also reiterated a Hold rating on the stock.

The company has a one year high of $79.33 and a one year low of $48.28. Currently, Qorvo has an average volume of 1.65M.

Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Daniel Dileo, a Director at QRVO sold 5,000 shares for a total of $370,200.

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. 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.