Analyst Price Target Update on Qorvo (NASDAQ:QRVO)

Qorvo (NASDAQ:QRVO): 15 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $59.07 in Qorvo (NASDAQ:QRVO). However, the stock price could fluctuate by $ 6.81 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $72 price target with the lower price estimate is calculated at $50

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, downgrades their rating on the shares of Qorvo (NASDAQ:QRVO). Citigroup has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $57 per share from a prior target of $40. The rating by the firm was issued on June 9, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Klein James L, officer (VP and Pres. Infra. & Defense) of Qorvo, Inc., had unloaded 2,768 shares at an average price of $55 in a transaction dated on June 6, 2016. The total value of the transaction was worth $152,240.

Qorvo (NASDAQ:QRVO) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.34 points or 0.63% at $53.69 with 1,792,676 shares getting traded. Post opening the session at $53.51, the shares hit an intraday low of $53.4 and an intraday high of $54.46 and the price was in this range throughout the day. The company has a market cap of $6,847 million and the number of outstanding shares have been calculated to be 127,530,673 shares. The 52-week high of Qorvo (NASDAQ:QRVO) is $88.35 and the 52-week low is $33.3.

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.

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