Qorvo Gets a Hold Rating from Oppenheimer

By Carrie Williams

In a report released yesterday, Rick Schafer from Oppenheimer reiterated a Hold rating on Qorvo (NASDAQ: QRVO). The company’s shares closed yesterday at $78.83, close to its 52-week high of $79.33.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 17.3% and a 72.7% success rate. Schafer covers the Technology sector, focusing on stocks such as Adesto Technologies Corp, Advanced Micro Devices, and NXP Semiconductors.

Qorvo has an analyst consensus of Moderate Buy, with a price target consensus of $73.

Based on Qorvo’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $643 million and quarterly net profit of $55.91 million. In comparison, last year the company earned revenue of $608 million and had a GAAP net loss of $24.2 million.

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.