Citigroup Upgrades QORVO INC COM to Neutral with Price Target $57.00

Brokerage firm Citigroup Upgrades its rating on QORVO INC COM(NASDAQ:QRVO). In a research note issued to the investors, the brokerage major Raises the price-target to $57.00 per share from a previous target of $40. The shares have been rated Neutral. Previously, the analysts had a Sell rating on the shares. The rating by Citigroup was issued on Jun 9, 2016.

In a different note, CLSA said it Initiates Coverage on QORVO INC COM, according to a research note issued on May 25, 2016. The shares have been rated ‘Underperform’ by the firm. On May 5, 2016, Brean Capital said it Maintains its rating on QORVO INC COM. In the research note, the firm Raises the price-target to $55.00 per share. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Goldman Sachs said it Maintains its rating on QORVO INC COM. In the research note, the firm Raises the price-target to $44.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 2, 2016, Goldman Sachs said it Maintains its rating on QORVO INC COM. In the research note, the firm Lowers the price-target to $47.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 19, 2016, Raymond James said it Downgrades its rating on QORVO INC COM. The shares have been rated ‘Outperform’ by the firm. Cowen & Company said it Initiates Coverage on QORVO INC COM, according to a research note issued on Apr 18, 2016. The shares have been rated ‘Market Perform’ by the firm.

QORVO INC COM (QRVO) made into the market gainers list on Wednesdays trading session with the shares advancing 0.94% or 0.51 points. Due to strong positive momentum, the stock ended at $54.94, which is also near the day’s high of $55.26. The stock began the session at $54.72 and the volume stood at 15,65,730 shares. The 52-week high of the shares is $88.35 and the 52 week low is $33.3. The company has a current market capitalization of $7,007 M and it has 12,75,30,673 shares in outstanding.

QORVO INC COM(QRVO) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $607.10M. Analysts had an estimated revenue of $600.25M. Earnings per share were $1.04. Analysts had estimated an EPS of $0.92.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, James L Klein (VP and Pres. Infra. & Defense) sold 2,768 shares at $55.00 per share price.Also, On Jun 6, 2016, Robert A Bruggeworth (President and CEO) sold 4,753 shares at $54.00 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.

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