MKM Partners Maintains Qorvo Inc to Buy with Price Target $70.00

Brokerage firm MKM Partners Maintains its rating on Qorvo Inc(NASDAQ:QRVO). In a research note issued to the investors, the brokerage major Raises the price-target to $70.00 per share. The shares have been rated Buy. The rating by MKM Partners was issued on Aug 3, 2016.

In a different note, On Aug 3, 2016, Goldman Sachs said it Maintains its rating on Qorvo Inc. In the research note, the firm Raises the price-target to $50.00 per share. The shares have been rated ‘Neutral’ by the firm. Morgan Stanley said it Initiates Coverage on Qorvo Inc, according to a research note issued on Jun 27, 2016. The shares have been rated ‘Equal-weight’ by the firm. On Jun 9, 2016, Citigroup said it Upgrades its rating on Qorvo Inc. According to the research note, Citigroup Raises the price target to $57 per share from a prior target of $40. The shares have been rated ‘Neutral’ by the firm. CLSA said it Initiates Coverage on Qorvo Inc, according to a research note issued on May 25, 2016. The shares have been rated ‘Underperform’ by the firm.

Qorvo Inc (QRVO) made into the market gainers list on Fridays trading session with the shares advancing 0.20% or 0.11 points. Due to strong positive momentum, the stock ended at $54.59, which is also near the day’s high of $54.87. The stock began the session at $54.57 and the volume stood at 11,70,364 shares. The 52-week high of the shares is $64.8 and the 52 week low is $33.3. The company has a current market capitalization of $6,982 M and it has 12,78,96,371 shares in outstanding.

Qorvo Inc(QRVO) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $697.60M. Analysts had an estimated revenue of $650.62M. Earnings per share were $1.08. Analysts had estimated an EPS of $1.05.

Several Insider Transactions has been reported to the SEC. On Jul 28, 2016, Robert A Bruggeworth (President and CEO) sold 10,000 shares at $64.50 per share price.Also, On Jul 11, 2016, James L Klein (VP and Pres. Infra. & Defense) sold 1,384 shares at $55.00 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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