Qorvo Inc (QRVO) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Apr 19, 2016.
Many Wall Street Analysts have commented on Qorvo Inc. Cowen Initiated Qorvo Inc on Apr 18, 2016 to “Market Perform”, Price Target of the shares are set at $50.Company shares were Reiterated by Mizuho on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Shares were Reiterated by Needham on Feb 11, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $55 .
On the company’s financial health, Qorvo Inc reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.94. The company had revenue of $620.70 million for the quarter, compared to analysts expectations of $620.45 million. The company’s revenue was up 56.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS.
Qorvo Inc closed down -0.58 points or -1.21% at $47.16 with 13,51,230 shares getting traded on Monday. Post opening the session at $47.3, the shares hit an intraday low of $46.66 and an intraday high of $47.52 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Apr 14, 2016, James L Klein (VP and Pres. Infra. & Defense) sold 4,255 shares at $50.00 per share price. According to the SEC, on Apr 13, 2016, Robert A Bruggeworth (President and CEO) sold 1,096 shares at $47.96 per share price. On Jan 5, 2016, Steven E Creviston (VP and Pres. Mobile Products) sold 10,000 shares at $50.06 per share price, according to the Form-4 filing with the securities and exchange commission.
Qorvo Inc. provides core technologies and radio frequency (RF) solutions for mobile infrastructure and defense and aerospace applications. The Company offers amplification filtering and switching products for RF microwave and millimeter-wave applications. It serves the mobile device networks infrastructure and defense and aerospace markets. It designs develops manufactures and markets its products to the United States and international original equipment manufacturers and original design manufacturers. Its operating segments include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The MP segment supplies RF solutions that perform various functions in the complex cellular radio front end section of smartphones and other cellular devices. The IDP segment supplies an array of RF solutions to wireless network infrastructure defense and aerospace markets and short-range connectivity applications for commercial consumer industrial and automotive markets.