Qorvo Inc (QRVO) was Upgraded by Charter Equity to ” Buy”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Charter Equity advised their Clients and Investors in a research report released on Mar 15, 2017.
Based on several research reports , Qorvo Inc was Upgraded by Charter Equity to ” Buy” on Mar 15, 2017. Qorvo Inc was Initiated by Wells Fargo to “Market Perform” on Mar 8, 2017. Company shares were Reiterated by Mizuho on Feb 2, 2017 to “Neutral”, Firm has raised the Price Target to $ 56 from a previous price target of $54 .Company shares were Reiterated by Cowen on Feb 2, 2017 to “Market Perform”, Firm has raised the Price Target to $ 60 from a previous price target of $53 .Company shares were Reiterated by Needham on Feb 2, 2017 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $62 .
Several company insiders have filed Insider transactions , on Mar 14, 2017, James L Klein (VP and Pres. Infra. & Defense) sold 2,600 shares at $67.13 per share price. According to the SEC, on Mar 9, 2017, Daniel A Dileo (director) sold 1,000 shares at $66.59 per share price. On Feb 22, 2017, Ralph Quinsey (director) sold 131,257 shares at $67.25 per share price, according to the Form-4 filing with the securities and exchange commission.
On the company’s financial health, Qorvo Inc reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 1, 2017. Analyst had a consensus of $1.25. The company had revenue of $826.30 million for the quarter, compared to analysts expectations of $821.42 million. The company’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Qorvo Inc opened for trading at $68.34 and hit $69.12 on the upside on Wednesday, eventually ending the session at $68.95, with a gain of 1.62% or 1.1 points. The heightened volatility saw the trading volume jump to 16,15,969 shares. Company has a market cap of $8,719 M.
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.