Qorvo (QRVO) Receives a Hold from Mizuho Securities

In a report released today, Vijay Rakesh from Mizuho Securities maintained a Hold rating on Qorvo (QRVOResearch Report). The company’s shares opened today at $61.54.

Rakesh observed:

“We believe uncertainty around the LT effects of the Huawei ban remains high. We are adjusting our estimates and our PT goes to $70 (prior $75), as QRVO looks to navigate a murky Huawei trade situation. We prefer AVGO with share gains, less Huawei exposure, diversification and cash returns.”

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 19.7% and a 56.9% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.

Qorvo has an analyst consensus of Moderate Buy, with a price target consensus of $78.25, a 27.2% upside from current levels. In a report issued on May 8, Oppenheimer also assigned a Hold rating to the stock.

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Qorvo’s market cap is currently $7.54B and has a P/E ratio of 58.03. The company has a Price to Book ratio of 1.65.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Ralph Quinsey, a Director at QRVO sold 209,349 shares for a total of $14,447,540.

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Qorvo, Inc. engages in the provision of core technologies and radio frequency solutions for mobile, infrastructure, and aerospace or defense applications. It operates through the following segments: Mobile Products and Infrastructure & Defense Products.