Analyst Rating Update on Qorvo (QRVO)

Qorvo (NASDAQ:QRVO) : Zacks Investment Research ranks Qorvo (NASDAQ:QRVO) as 1, which is a Strong Buy recommendation. 11 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 19 research analysts is 1.79, which indicates as a Buy.

Qorvo (NASDAQ:QRVO) : The highest short term price target forecast on Qorvo (NASDAQ:QRVO) is $72 and the lowest target price is $50. A total of 16 equity analysts are currently covering the company. The average price of all the analysts is $59.31 with a standard deviation of $6.65.

For the current week, the company shares have a recommendation consensus of Buy. Also, Citigroup downgrades their rating on the shares of Qorvo (NASDAQ:QRVO). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. Equity Analysts at the Firm raises the price target to $57 per share from $40 per share. The rating by the firm was issued on June 9, 2016.

Qorvo (NASDAQ:QRVO): stock turned positive on Tuesday. Though the stock opened at $51.81, the bulls momentum made the stock top out at $53.38 level for the day. The stock recorded a low of $51.26 and closed the trading day at $52.75, in the green by 4.06%. The total traded volume for the day was 1,435,912. The stock had closed at $50.69 in the previous days trading.

In an insider trading activity, Bruggeworth Robert A, director officer (President and CEO) of Qorvo, Inc., unloaded 206 shares at an average price of $53.57 on June 14, 2016. The total amount of the transaction was worth $11,035, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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